Question:
You own a stock portfolio which invested 30 percent in Stock Q, 20 percent in Stock R, 35 percent in Stock S, and 15 percent in Stock T. The betas for these four stocks are 0.85, 1.18, 1.02, and 1.20, respectively. What is the portfolio beta? (Round your answer to 2 decimal places. (e.g., 32.16))