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Portfolio Beta Your investment club has only two stocks in its portfolio. $20,000 is invested in a stock with a beta of 0.7, and $35,000

Portfolio Beta

Your investment club has only two stocks in its portfolio. $20,000 is invested in a stock with a beta of 0.7, and $35,000 is invested in a stock with a beta of 1.6. What is the portfolio's beta? Round your answer to two decimal places.

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