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An investment firm has a portfolio worth $35 million with a beta of 1.3. Currently, the futures price for a contract on an index is

An investment firm has a portfolio worth $35 million with a beta of 1.3. Currently, the futures price for a contract on an index is 1087. Futures contracts on $250 times the index can be traded. What should the firm do to reduce beta of its portfolio to 0.7?

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