If you hold a $60 million bond portfolio with modified duration of 10 years. You expected the market interest rate increase by 5 basis points (0.05%) and you want to use the 5% coupon rate 15 years maturity U.S. Treasury bond futures with modified duration of 12 years and face value of $100,000 to hedge your portfolio. How many contracts do you need to hedge your portfolio if the treasury bond is trading at $100 per par value of 100?

	A.	10
	B.	50
	C.	20
	D.	100