You have $320,000 and decide to invest in two exchange traded funds (ETFs) and the risk-free asset. The first ETF has an expected return of 8.1% and a beta of 1.2. The second ETF has an expected return of 6.5% and a beta of 0.8. The risk free-asset has a return of 2%, and the expected return on the market is 7.3%. If you invest $120,000 in the first ETF, $120,000 in the second ETF, and $80,000 in the risk-free asset,

a). What is the beta of your portfolio?

b). What is the expected return of your portfolio?