A mutual fund manager has $10 million portfolio with a beta of 1.5. The risk-free rate is 4.0%, and the market risk premium is 5%. The manager expects to receive an additional $5 million, which she plans to invest in a number of stocks. After investing the additional funds, she wants the fund's required return to be 12%. What should be the average beta of the new stocks added to the portfolio? 1.80 1.05 1.28 1.63 1.54