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A company has a $42 million portfolio with a beta of 0.8. The futures price for a contract on an index is 800. Futures contracts

A company has a $42 million portfolio with a beta of 0.8. The futures price for a contract on an index is 800. Futures contracts on $300 times the index can be traded. How many futures contracts should be shorted to reduce beta to 0.6? Your answer should be rounded off to nearest integer and contain no decimals.

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