Jill Angel holds a $200,000 portfolio consisting of the following stocks.The portfolio's beta is 0.88. If Jill replaces Stock A with another stock,E,which has a beta of 1.30,what will the portfolio's new beta be? Do not round your intermediate calculations.
A) 1.40
B) 0.97
C) 0.91
D) 1.24
E) 1.08