A fund manager has a portfolio worth $25 million with a beta of 0.8. The manager is concerned about the performance of the market over the next two months and plans to use three-month futures contracts on a well-diversified index to hedge its risk. The current level of the index is 1250, one contract is on 250 times the index, the risk-free rate is 6% per annum, and the dividend yield on the index is 3% per annum. The current 3 month futures price is 1,292. In order to eliminate all exposure to the market over the next two months, the fund manager should short how many futures contracts