In October, MaxCorp decided to buy 100 thousand shares of Z company, with the purchase taking place in November. Z companys stock has a beta of 1.60 and currently worth $32.50. MaxCorp would like to hedge this transaction using December S&P 500 futures, whose current price is 2938.50 and multiplier of $250. Assume the S&P 500 futures contract has a beta of 1. The number of S&P 500 futures required is