A bond portfolio is worth $44,000,000. The futures price for a Treasury note futures contract is 105 and each contract is for the delivery of bonds with a face value of $100,000. On the delivery date, the duration of the bond that is expected to be cheapest to deliver is 9 yoars and the duration of the bond portfolio will be 7.5 years. How many futures contracts are necessary to buy or soll for hedging the portfolio? Sell 367 contracts Buy 900 contracts Buy 330 contracts