Please use formulas and not excel!

Assume that you hold a well-diversified portfolio that has an expected return of 14.7% and a beta of 1.22. You are in the process of buying 500 shares of Drake Corp at $32 a share and adding it to your portfolio. Drake has an expected return of 19.5% and a beta of 1.70. The total value of your current portfolio is $80,000. What will the expected return and beta on the portfolio be after the purchase of the Drake stock? (expected return; beta) (A) (14.94%,1.26) (B) (15.50%;1.30) (C) (16.47%;1.38) (D) (17.25%;1.47) (E) (17.88%;1.58)