This is a NEW questionnot related to the previous question Assume that the Hope College Endowment Fund (HCEF) is invested in many different stocks and the portfolio beta is 1.4. The total endowment is equal to $700 million. Because of protest from students, the HCEF manager is going to sell $80 million invested in Nike common stock (beta 3) and use the proceeds to purchase $80 million of Disney common stock (beta 1.3). The total invested endowment will still be equal to $700 million. Calculate the HCEF's new portfolio beta