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Sunny Sonny currently has an investment portfolio that contains four stocks with a total value equal to $80,000. The portfolio has a beta equal to

Sunny Sonny currently has an investment portfolio that contains four stocks with a total value equal to $80,000. The portfolio has a

beta equal to 1.4. In order to earn higher returns, Peter wants to invest an additional $20,000 in a stock that has beta equal to 2.4.

After Peter adds the new stock to his portfolio, what will the portfolio's beta be? (Round off to 2 decimal points)

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