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Your investment club has only two stocks in its portfolio; $40,000 is invested in a stock with a beta of 0.4, and $40,000 is invested

Your investment club has only two stocks in its portfolio; $40,000 is invested in a stock with a beta of 0.4, and $40,000 is invested in a stock with a beta of 2.4. What is the portfolio's beta? Round your answer to two decimal places.

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