Heritage Auction Galleries, a Dallas based auction company, has agreed to purchase the entire inventory of $10 gold coins from a rare coin dealer in Europe. The transaction will take place in March and involves the purchase of 1,000 gold coins for a fixed price of $1,250 for each coin. Heritage would like to hedge this transaction using gold futures. A regression of the spot price of $10 gold coins on the futures price of gold has a statistically significant (slope) coefficient of 1.36 and an R2 of 0.55. One gold futures contract is for the delivery of 100 ounces of gold. How can Heritage hedge this transaction using gold futures? a) Should the company long or short the futures contract? Please input long or short in lower case. Your answer: long b) How many futures contracts should the company trade? Please input only the number of contracts to trade; round the number to the nearest whole number. Your answer: