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A manager is holding a $2.4 million stock portfolio with a beta of 1.4. She would like to hedge the risk of the portfolio using
A manager is holding a $2.4 million stock portfolio with a beta of 1.4. She would like to hedge the risk of the portfolio using the S&P/TSX 60 stock index futures contract. How many dollars worth of the index should she sell in the futures market to minimize the volatility of her position? (Round your answer to nearest whole dollar amount. Omit the "$" sign in your response.)
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