A portfolio manager has $100 million invested in her portfolio and she expects to receive an additional $25 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 13%. Currently, the portfolio has a beta of 1.65, the risk-free rate is 3.00%, and the market risk premium is 5.0%.

Do not round intermediate calculations. Round your answer to two decimal places. Enter a negative answer with a minus sign.

What should be the average beta of the new stocks added to the portfolio? The beta is ______?