You hold a diversified portfolio consisting of a $100,000 investment in each of 20 different common stocks (i., your total investment is $2,000,000)....

You hold a diversified portfolio consisting of a $100,000 investment in each of 20 different common stocks(i.e., your total investment is $2,000,000). The portfolio beta is equal to 1.4. You have decided to sell oneof your stocks that has a beta equal to 0.6 for $100,000. You plan to use the proceeds to purchase anotherstock that has a beta equal to 1.6. What will be the beta of the new portfolio? (Round your answer to onedecimal place; thus, record 21.2843 as 21.3).