Which of the following statements is correct?

A) In case of bankruptcy and liquidation of assets, common share have priorities over preferred shares to claim their dividend

B) Preferred shareholders are the real "owner" of the firm

C) A firm residual earnings technically belong to the preferred shareholders

D) Preferred shared have more voting right than common shares

E) Preferred shares typically have a fixed dividend, where as the dividend for common shares is determined by a firm board of directors every year.

You hold 13 stocks in your portfolio. Each stock has the same weight. The portfolio beta is 1.23. If you sell one stock which has a beta of 1.20 and invest the proceeds in a new stock which has a beta of 1.06 What will be your new portfolio beta?

The beta for the new portfolio will be______ (4 decimals)