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You own a stock portfolio invested 25 percent in Stock Q,20 percent in Stock R,40 percent in Stock S, and 15 percent in Stock T.

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You own a stock portfolio invested 25 percent in Stock Q,20 percent in Stock R,40 percent in Stock S, and 15 percent in Stock T. The betas for these four stocks are .81, 1.19, 1.20, and 1.37, respectively. What is the portfolio beta? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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