Portfolio Beta

Your retirement fund consists of a $$6,000$ investment in each of $12$ different common stocks. The portfolio's beta is $1\mathrm{.}40.$ Suppose you sell one of the stocks with a beta of $0\mathrm{.}7$ for $$6,000$ and use the proceeds to buy another stock whose beta is $1\mathrm{.}9.$ Calculate your portfolio's new beta. Do not round intermediate calculations. Round your answer to two decimal places.