You have $106,000 to invest in a portfolio containing Stock X and Stock Y. Your goal is to create a portfolio that has an expected return of 16 percent. Stock X has an expected return of 13 percent and a beta of 1.14, and Stock Y has an expected return of 9.0 percent and a beta of .84.

How much money will you invest in stock Y? (Do not round intermediate calculations. A negative amount should be indicated by a minus sign.)

Investment in Stock Y

$

What is the beta of your portfolio? (Do not round intermediate calculations. Round your answer to 3 decimal places, e.g., 32.161.)

Beta of the portfolio