Abrams builds a portfolio by investing in two stocks only: Microsoft $($MSFT$)$ and Motorola $($MSI$).$ According to the CAPM, the expected risk premium $($i$.$e$.,$ the expected return minus the risk$-$free rate$)$ of MSFT is $12\mathrm{.}53\%$ and the expected risk premium of MSI is $5\mathrm{.}95\%.$ The beta of MSFT is equal to $1\mathrm{.}16.$ If Abrams puts $80\%$ of his money in MSFT stock and $20\%$ in MSI stock, what is the approximate beta of his portfolio?

$\backslash$beta p$=$

Number

$($Please round your answer with two decimals$).$