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your investment club has only two stocks in its portfolio. $20,000 is invested in a stock with a beta of 0.5, and $40,000 is invested

your investment club has only two stocks in its portfolio. $20,000 is invested in a stock with a beta of 0.5, and $40,000 is invested in a stock with a beta of 1.6. What is the portfolio's beta? Do not round intermediate calculations. Round your answer to two decimal places.

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