Suppose the Following Equation Best Describes the Evolution Of $\beta$ Over Time

Multiple Choice

Suppose the following equation best describes the evolution of $\beta$ over time: $\beta$ _t = 0.31 + 0.82 $\beta$ _{t - 1}.
If a stock had a $\beta$ of 0.88 last year, you would forecast the $\beta$ to be _______ in the coming year.

A) 0.88
B) 0.82
C) 0.31
D) 1.03