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, 17. Problem 8.17 (Portfolio Beta) eBook A mutual fund manager has a $20 million...

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, 17. Problem 8.17 (Portfolio Beta) eBook A mutual fund manager has a $20 million portfolio with a beta of 1.65. The risk-free rate is 7.25%, and the market risk premium is 7.0%. The manager expects to receive an additional $5 million, which she plans to invest in a number of stocks. After investing the additional funds, she wants the fund's required return to be 18%, what should be the average beta of the new stocks added to the portfolio? Negative value, if any should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to two decimal places. if

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