Ross Law is presented with a client's problem. They have a portfolio of P10,000 investment in each of 20 different stocks in PSE. Portfolio beta is 1.2. They have decided to sell one of their stock...

Ross Law is presented with a client's problem. They have a portfolio of P10,000 investment in each of 20 different stocks in PSE. Portfolio beta is 1.2. They have decided to sell one of their stock that has a beta of 0.7 for P10,000. They plan to use the proceeds to buy another stock with a beta of 1.4. What will be the new portfolio beta?