There should be no bevel on the froe. It should taper evenly to a point on both sides, forming a vee. The froe ideally should be a half inch or more on the top side. The taper comes from taking wood off of the outside of the billet. If you were to split the billet equally in half, and the halves in half, you would have fairly square non tapered pieces, provided you have a fairly straight grained billet. Eventually you would have pegs.
Dave