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A company has a $36 million portfolio with a beta of 1.2. The futures price for a contract on an index is 900. Futures contracts

A company has a $36 million portfolio with a beta of 1.2. 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 reduce beta to 0.9? (2 marks) O A. Long 192 contracts O B. Long 48 contracts OC. Short 192 contracts O D. Short 48 contracts

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