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16 of 30 An equally-weighted portfolio that consists of 13 stocks has a beta of 1.5. If you replace one of the 13 stocks which

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16 of 30 An equally-weighted portfolio that consists of 13 stocks has a beta of 1.5. If you replace one of the 13 stocks which has a beta of 0.86 by the risk-free asset. What is the beta of the new portfolio? The beta of the new portfolio is (Note: please retain at least 4 decimals in your calculations and at least 2 decimals in the final answer)

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