Firm K is expected to pay a dividend of $2 in the upcoming year. Dividends are expected to grow at the rate of 7.5% per year. The risk-free rate of return is 5%, and the expected return on the market portfolio is 11%. The stock is trading in the market today at $55. Using the constant-growth DDM and the CAPM, the beta of the stock is _________. Hint: use the constant-growth DDM to determine the market capitalization rate of the stock. "