Which of the following statements is CORRECT?

		The beta of a portfolio of stocks is always larger than the betas of any of the individual stocks
		The beta of an "average stock," which is also "the market beta," can change over time, sometimes drastically.
		If a newly issued stock does not have a past history that can be used for calculating beta, then we should always estimate that its beta will turn out to be 1.0. This is especially true if the company finances with more debt than the average firm.
		The beta of an "average stock," which is also "the market beta," cannot change over time.
		If a company with a high beta merges with a low-beta company, the best estimate of the new merged company's beta is 1.0.