What is the beta of a portfolio which consists of the following? 
Definitions:
Delegable Obligations
Responsibilities or duties that can be transferred from one party to another, typically within a contract or legal agreement.
Authorized Agent
an individual or entity that has been legally empowered to act on behalf of another person or entity in business transactions or legal matters.
Express Authority
Power granted to an agent by explicit instructions from the principal, either verbally or in writing, defining the agent's tasks or limits.
Actual Authority
The specific powers that a principal explicitly grants to an agent in the context of an agency relationship.
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