You were hired as a consultant to restructure operating capital. The recommended goal is for the firm to have a capital structure is 33% debt, 8% preferred, and 59% common equity. The interest rate on new debt is 6.50%, the yield on the preferred is 6.00%, the cost of retained earnings is 11.25%, and the tax rate is 47%. The firm will not be issuing any new stock The firm's projected WACC is _% QUESTION 23 Stock W has a beta of 1.41, Stock X has a beta of 0.84 Stock Y has a beta of 0.04 and stock Z has a beta of -0.13. If you have a portfolio which contains equal proportions of these four stocks, what is the portfolio beta (to two decimal places)