A mutual fund manager has a $20 million portfolio with a beta of 1.2. The risk-free rate is 4.5%, 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? Negative value, if any, should be indicated by a minus sign. Do not round Intermediate calculations. Round your answer to one decimal place. You have been managing a $5 million portfolio that has a beta of 1.15 and a required tate of return of 10.475%. The cuirrent risk-free rate is 3%. Assume that you receive another $500,000. If you invest the money in a stock with a beta of 0.85, what will be the required return on your $5.5 million portfello? 0o nat round intermediate calculations. Round your answer to two decimal places. l0