You have $10,000,000 in a portfolio consisting of 4 stocks w…

You have $10,000,000 in a portfolio consisting of 4 stocks with $2,500,000 invested in each.  The portfolio’s beta is 1.50.  You plan to sell Stock A in your portfolio and use the proceeds to buy Stock B.  Stock A has a beta of 1.25, while Stock B’s beta is 0.75.  After this transaction, what will the portfolio’s new beta be? (Hint:  Make sure to carry out your calculation to 4 decimal places.)