A mutual fund manager has $40 million portfolio with a beta of 1.00. The risk free rate is 4.25%, and the market risk premium is 6%. The manager expects to receive an additional $60 million which she plans to invest in additional stocks. After investing these additional funds, she wants the fund's required and expected return to be 13%. What must the average beta of the new stocks be in order to achieve the target required (expected) return?