An investor recently created a portfolio that consists of stocks from General Motors, Kroger, and AT&T. The investor purchased $20,000 worth of General Motors stock that has a beta (raw beta) of 1.38. The investor also bought $15,000 worth of stocks in Kroger that has a beta (raw beta) of 0.49. In addition, the investor purchased $15,000 worth of stocks in AT&T that has a beta (raw beta) of 0.76. Based on the information given above, what is the beta for the portfolio? (You may round your final answer to the nearest hundredth.)

Group of answer choices

0.88

0.93

1.00

2.63