Ebeneezer Scrooge Jasper currently manages a $500,000 portfolio. He is expecting to receive an additional $250,000 from a new client. The existing portfolio has a required return of 10.75 percent. The risk-free rate is 4 percent and the return on the market is 9 percent. If Scrooge wants the required return on the new portfolio to be 11.5 percent,
What should be the average beta for the new stocks added to the portfolio?