Modern Portfolio Managers (MPM) hold a 4.5 million dollar portfolio of stocks with a beta of 1.1 measured with respect to the S\&P 500 index. The current value of a futures contract on the index is 1069 . 1. The multiplier on the futures equals $250. If MPM wishes to hedge the systematic risk in its portfolio, how many contracts must it buy or sell? Sell 16.836 Buy 1.0454 Sell 1.0454 Buy 18.52 Sell 18.52