Stock X

Close = $69.30

Previous Close = $69.41

Open = $69.71

Bid = $69.01 x 300

Ask = 69.10 x 2500

Day's Range = 69.13 - 69.71

Current Beta = 1.38

P/E Ratio (TTM) = 30.60

EPS (TTM) = 2.27

Dividends and Yield = 1.56 (2.28%)

Suppose you form a portfolio whereby you invest half of

your wealth in the above (see data) and the other half in the riskless asset.

What is the beta on your portfolio?