Walter Jasper currently manages a $

$5$

$0$

$0$

$,$

$0$

$0$

$0$

$$portfolio$.$ He is expecting to receive an additional $

$2$

$0$

$0$

$,$

$0$

$0$

$0$

$$from a new client. The existing portfolio has a required return of

$1$

$1$

$.$

$2$

$\%$

$.$

$$The risk

$-$

free rate is

$2$

$.$

$8$

$\%$

$$and the return on the market is

$1$

$1$

$.$

$0$

$\%$

$.$

$$If Walter wants the required return on the new portfolio to be

$1$

$3$

$.$

$3$

$\%$

$,$

$$what should be the average beta for the new stocks added to the portfolio? Enter your answer in

$\%$

$$and round your final answer to two decimals