Levering/Unlevering Beta

Are we supposed to inclue (1-T) in the formula? The CFA Text and EOC do not include this component, but every other time I’ve use this formula and pretty much every google result online accounts for taxes. Any ideas?

Level I uses (1 - t); Level II does not.

Thank your luck stars and move on.

Awesome! Thanks for the quick tip.

My pleasure.