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You have been hired as the manager of a portfolio of ten sport assets that are held in equal dollar amounts. The current beta of

You have been hired as the manager of a portfolio of ten sport assets that are held in equal dollar amounts. The current beta of the portfolio is 1.9, and the beta of Asset A is 2.1. If Asset A is sold and the proceeds are used to purchase a replacement asset, what beta would the replacement asset have to have in order to lower the portfolio beta to 1.6?

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