A mutual fund manager has a $20 million portfolio with a beta of 1.3. The risk-free rate is 2.5%, and the market risk premium is 9%. 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 16%. 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 becimal place. An individual has $45,000 invested in a stock with a beta of 0.7 and another $40,000 invested in a stock with a beta of 2.3. If these are the only two investments in her portfolio, what is her portfolio's beta? Do not round intermediate calculations. Round your answer to two decimal places. Assume that the risk-free rate is 4.5% and the required return on the market is 11%. What is the required rate of return on a stock with a beta of 3 ? Round your answer to two decimal places. %