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You have a $ 3 million portfolio consisting of a $ 100,000 investment in each of 30 different stocks. The portfolio has a beta of

You have a $ 3 million portfolio consisting of a $ 100,000 investment in each of 30 different stocks. The portfolio has a beta of 1.1. You are considering selling $100,000 worth of one stock with a beta of 0.7 and using the proceeds to purchase another stock with a beta of 1.3. What will be the portfolios new beta be after these transactions

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