Question: Walter Jasper currently manages a $ 5 0 0 , 0 0 0 portfolio. He is expecting to receive an additional $ 2 0 0

Walter Jasper currently manages a $500,000 portfolio. He is expecting to receive an additional $200,000 from a new client. The existing portfolio has a required return of 11.2%. The risk-free rate is 2.8% and the return on the market is 11.0%. If Walter wants the required return on the new portfolio to be 13.3%, what should be the average beta for the new stocks added to the portfolio? Enter the answer in % and round the final answer to two decimals

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