0/2.5 pts Incorrect Question 24 Add a Comment: Hazel Morrison, a mutual fund manager, has...
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0/2.5 pts Incorrect Question 24 Add a Comment: Hazel Morrison, a mutual fund manager, has a $60 million portfolio with a beta of 1.00. The risk-free rate is 3.25%, and the market risk premium is 6.00%. Hazel expects to receive an additional $40 million, which she plans to invest in additional stocks. After investing the additional funds, she wants the fund's required and expected return to be 14%, what must the average beta of the new stocks be to achieve the target required rate of return? Enter your answer rounded to two decimal places. For example, if your answer is 12.345 then enter as 12.35 in the answer box. Media Comment Save 3.4
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