A bank wishes to hedge its $$30$ million face value bond portfolio $($currently priced at $99$ percent of par$).$ The bond portfolio has a duration of $9\mathrm{.}75$ years. It will hedge with $T-$note futures $($ $$100,000$ face$)$ priced at $98$ percent of par. The duration of the underlying $T-$note to be delivered for the $T-$note futures is nine years. Calculate the number of $T-$note futures contracts needed to hedge the interest rate risk of the bank's bond portfolio. Ignore basis risk.

$328$

$300$

$108$

$325$

$93$