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Comparable companies have an average levered beta of 1.20, average D/E of 0.50, tax rate 25%. Target has D/E of 0.80, tax rate 30%. The target's re-levered beta is approximately:

1.20Roughly 1.45 — unlever comps to β_u ≈ 0.92, then re-lever at target's higher D/E: 0.92 × [1 + 0.7 × 0.80] = 1.430.502.00