A mutual fund manager has a $100.0 million portfolio with a beta of 1.10. The risk-free rate is 2.20%, and the market risk premium is 5.50%.The manager expects to receive an additional $50.0 million which she plans to invest in a number of stocks.After investing the additional funds, she wants to reduce the portfolio's risk level so that once the additional funds are invested the portfolio's required return will be 7.70%.What must the average beta of the new stocks added to the portfolio be to achieve the desired required rate of return?

a.0.60

b.0.80

c.0.90

d.1.00

e.1.10