Your investment club has only two stocks in its portfolio. $15,000 is invested in a stock with a beta of 0.6, and $40,000 is invested in a stock with a beta of 1.6. What is the portfolio's beta? Do...

Your investment club has only two stocks in its portfolio. $15,000 is invested in a stock with a beta of 0.6, and $40,000 is invested in a stock with a beta of 1.6. What is the portfolio's beta? Do not round intermediate calculations. Round your answer to two decimal places.