(Answered) You are an investor in common stocks and you currently hold

Finance

You are an investor in common stocks, and you currently hold a well-diversified portfolio that has an expected return of 6.5%, a beta of 1.05, and a total value of $90,000. You plan to increase your portfolio by buying 300 shares of Castle & Co. at $100 a share. Castle has an expected return of 7.30% with a beta of 1.25. What will be the expected return and the beta of your portfolio after you purchase the new stock? Please include the steps in order for better understanding.

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