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3. You currently own a portfolio valued at $56,000 that has a beta of 1.28. You have another $10,000 to invest and would like to

3. You currently own a portfolio valued at $56,000 that has a beta of 1.28. You have another $10,000 to invest and would like to invest it in a manner such that the portfolio beta decreases to 1.20. What does the beta of the new investment have to be?

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