An airline company uses crude oil futures to protect against changing jet fuel prices. They plan on purchasing 8.4 million gallons of jet fuel and each crude oil futures contract is for 42,000 gallons. The optimal hedge ratio is 0.75. How many futures contracts should the company enter into to hedge the jet fuel purchase (also indicate whether the airline company should take a long or short position)? Optimal number of contracts is The firm should take a (enter "long" or "short") position