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Lucas builds a portfolio by investing in two stocks only: Google (GOOG) and Nokia (NOK)....

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Accounting

Lucas builds a portfolio by investing in two stocks only: Google (GOOG) and Nokia (NOK). According to the CAPM, the expected risk premium (i.e., the expected return minus the risk-free rate) of GOOG is 12.13% and the expected risk premium of NOK is 5.33%. The beta of GOOG is equal to 1.21. If Lucas puts 71% of his money in GOOG stock and 29% in NOK stock, what is the approximate beta of his portfolio?

p= (Please round your answer with two decimals).

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