(a) Tapas Management Limited, a local real estate company has invested in 2-asset portfolio to diversify it incomes. Their weights of the assets are 35% and 65% respectively, their standard deviations are 2.3% and 3.5% and their betas are 0.9 and 1.2, respectively. Their mutual correlation coefficient is 0.5. Required: (i) Calculate the portfolio beta [10 marks] (ii) Based on the results in (i) above, comment on the risk profile of Tapas Management Limited, in relation to the market [5 marks]