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Johnny holds the following portfolio: Stock Investment Beta A $150,000 1.40 B $50,000 0.80 C $100,000 1.00 D $75,000 1.20 Johnny plans to sell Stock

Johnny holds the following portfolio: Stock Investment Beta A $150,000 1.40 B $50,000 0.80 C $100,000 1.00 D $75,000 1.20 Johnny plans to sell Stock A and replace it with Stock E, which has a beta of 0.75. By how much will the portfolio beta change? (Please state your answer in 2 decimal points)

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