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A company has a $18 million portfolio with a beta of 0.8. The futures price for a contract on an index is 900. Futures contracts

A company has a $18 million portfolio with a beta of 0.8. The futures price for a contract on an index is 900. Futures contracts on $250 times the index can be traded. What trade is necessary to increase beta to 1.2?

		short 48 contracts
		long 32 contracts
		long 48 contracts
		short 32 contracts

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