Calculate the stock index futures hedge ratio if your stock portfolio is currently valued at $2,400,000, portfolio beta is 1.15 and the S&P 500 futures price is 3,347.40 with a multiplier of $250. Although impractical, you may round off your answer to 2 decimal places.

Question options: option 2 is wrong

1)

2.87

2)

12.25

3)

716.97

4)

3.30