Suppose you hold a diversified portfolio worth $500,000 with 20 stocks.The beta of the portfolio is 1.2.Now you sold stock A worth $50,000 whose beta is 0.8, and bought stock Z worth $70,000 whose beta is 1.4.What is the beta of the new portfolio?

a.1.27

b.1.29

c.1.31

d.1.33

e.1.25