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Suppose you hold a diversified portfolio consisting of a $10,000 investment in each of 5 different common stocks. The portfolio's beta is 1.65. Now suppose

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Suppose you hold a diversified portfolio consisting of a $10,000 investment in each of 5 different common stocks. The portfolio's beta is 1.65. Now suppose you decided to sell one of your stocks that has a beta of 1.1 and use the proceeds to buy a replacement stock with a beta of 1.45. What would be the portfolio's new beta? Express your answer to 2 decimal places

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