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11 John Smith has $120,000 invested in a 2 -stock portfolio. $77,500 is invested in Stock X and the remainder is invested in Stock Y.

John Smith has $120,000 invested in a 2 -stock portfolio. $77,500 is invested in Stock X and the remainder is invested in Stock Y. X's beta is 1.25 and Y's beta is 0.65. What is the portfolio's beta? 1.38 1.04 1.32 1.45 1.22

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