You work for the stunningly effective WQ Endurance Fund, and are putting together a 2-stock portfolio. You choose to invest 70% of your money in Verizon Communications Inc. (ticker: VZ) stock and 30% of your money in AT&T Co.s (ticker: T) stock. Both companies compete in the telecom and media industries. VZ has a beta of 0.8 and standard deviation of 0.40. AT&T has a beta of 0.5 and a standard deviation of 0.30. What is the beta of this portfolio?