1. A money manager currently manages a $8,000,000 portfolio. He is expecting to receive an additional $2,000,000 from a new client. The existing portfolio has a required return of 7 percent. The risk-free rate is 3 percent and the return on the market is 8 percent. If the money manager wants the required return on the new portfolio (with $10,000,000 invested assets) to be 7.5 percent, what should be the average beta for the new stocks added to the portfolio? [1 decimal place]