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A company has a $72 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 $72 million portfolio with a beta of 1.2. The futures price for a contract on an index is 900. Futures contracts on $500 times the index can be traded. What trade is necessary to increase beta to 1.8? (Specify long or short, and the number of contracts.)

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