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11 QUESTIONS A company has a $20 million portfolio with a beta of 0.9. It would like to use futures contracts on the S&P 500

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11 QUESTIONS A company has a $20 million portfolio with a beta of 0.9. It would like to use futures contracts on the S&P 500 to hedge its risk. The index futures is currently standing at 1,080, and each contract is for delivery of $250 times the index. What is the hedge that minimizes risk? Round your answer to two decimal places

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