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Consider the single-factor APT. Portfolios A and B have expected returns of 12% and 14%, respectively. The risk-free rate of return is 5%. Portfolio B

Consider the single-factor APT. Portfolios A and B have expected returns of 12% and 14%, respectively. The risk-free rate of return is 5%. Portfolio B has a beta of 1.2. If arbitrage opportunities are ruled out, portfolio A has a beta of _____.

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