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Willis currently has $120,000 invested in a four-stock portfolio with a beta coefficient equal to 1.3. Willis plans to sell one of the stocks

Willis currently has $120,000 invested in a four-stock portfolio with a beta coefficient equal to 1.3. Willis plans to sell one of the stocks in his portfolio for $48,000, which will increase the portfolio's beta to 1.0. What is the beta coefficient of the stock Willis plans to sell? Do not round intermediate calculations. Round your answer to two decimal places

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