Data table: Debt outstanding (book value, AA-rated) $420 million Number of shares of common stock 76 million

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Data table:

Debt outstanding (book value, AA-rated) $420 million

Number of shares of common stock 76 million

Stock price per share $12.78

Book value of equity per share $6.07

Beta of equity 1.17

IDX Tech is looking to expand its investment in advanced security systems. The project will be financed with equity. You are trying to assess the value of the investment and must estimate its cost of capital. You find the following data for a publicly-traded firm in the same line of business: (data table). By making some realistic assumptions, estimate the project's beta.

The estimated project's beta is