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The beta of your portfolio is 1 . 3 5 . You sell 1 5 % of your current portfolio such that the remaining portfolio

The beta of your portfolio is 1.35. You sell 15% of your current portfolio such that the remaining portfolio maintains the current beta of 1.35. If you invest the proceeds received from the sale in a stock with a beta of 0.78, what is the beta of the new portfolio?
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