Use the Following Information to Answer the Question Below

Short Answer

Use the following information to answer the question below.
As an investor, you are considering investing in the Locke Corporation (LC). According to your estimation there is a 75% probability that the return will be 17%, a 15% probability that the return will be 20%, and a 10% probability that the return will be 8%. You have also estimated LC's beta as 1.7.The market required rate of return is 15% and the risk free rate is 9%.
-Your portfolio has a value of $1,800,000 with a beta of 1. Then, you buy$200,000 of the LC stock without selling any existing stock. What is the new beta of your portfolio?