You own a stock portfolio invested 24 percent in Stock Q, 21 percent in Stock R, 44 percent in Stock S, and 11 percent in Stock T. The betas for these four stocks are .86, .92, 1.32, and 1.77, respectively.
Required: What is the portfolio beta? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)