Mary currently manages a $500,000 portfolio. She is expecting to receive an additional $250,000 from a new

Question:

Mary currently manages a $500,000 portfolio. She is expecting to receive an additional $250,000 from a new client. The existing portfolio has a required return of 10.75%. The risk-free is 4% and the return on the market is 9%. If Mary wants the required return on the new portfolio to be 11.5%, what should be the average beta for the new stocks added to the portfolio?

What is the equation and how to work through this problem to get the correct average beta?

Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing... Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...