Problem $10-12$ Portfolio Beta $($LG$10-3)$

You have a portfolio with a beta of $1\mathrm{.}36.$ What will be the new portfolio beta if you keep $93$ percent of your money in the old portfolio and $7$ percent in a stock with a beta of $0\mathrm{.}53?($Round your answer to $2$ decimal places.$)$

New portfolio beta