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Gene invested $5,000 in stock KNI, which has a beta 1.76. Also, he invested in stock MIC, which has a beta of 0.89. Gene spent

Gene invested $5,000 in stock KNI, which has a beta 1.76. Also, he invested in stock MIC, which has a beta of 0.89. Gene spent $12,000 on the entire portfolio, which consists of stocks KNI, MIC, and a risk-free asset. To ensure that beta of the entire portfolio is 1.01, how much should Gene invest in MIC?

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