6.7 Thumbs Up if You're Right

Your retirement fund consists of a $6,000 investment in each of 18 different common stocks. The portfolio's beta is 1.20. Suppose you sell one of the stocks with a beta of 0.9 for $6,000 and use the proceeds to buy another stock whose beta is 1.8. Calculate your portfolio's new beta. Do not round intermediate calculations. Round your answer to two decimal places