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ABC has a $10 million portfolio with a beta of 0.75. It would like to use futures contracts on the ASX 200 to hedge its

ABC has a $10 million portfolio with a beta of 0.75. It would like to use futures contracts on the ASX 200 to hedge its risk. The index is currently standing at 7500, and each contract is for delivery of $25 times the index. What is the optimal number of contracts of the hedge that minimizes risk?

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