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Sadie has $3000000 in a portfolio consisting of 25 stocks with $1200,000 invested in each. The portfolio beta is1.25. She plans to sell Stock X

Sadie has $3000000 in a portfolio consisting of 25 stocks with $1200,000 invested in each. The portfolio beta is1.25. She plans to sell Stock X in the portfolio and use the proceeds to buy Stock Y. Stock X has a beta of 1.60, while Stock Y has a beta of .70. Once the transaction is complete, what's the portfolio's new beta?

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