Moonshine Ltd , a US-based asset management company has $20 million invested in the FTSE 100 (UK stock index) Mr young an asset manager at moonshine Ltd gathered the following information in order to evaluate the position that Moonshine Ltd will have to take in order to manage their equity and currency risk. portfolio beta 0.83 spot exchange rate $1.71 US interest rate 5.69% UK interest rate 7.04% both quoted in LIBOR manner ,rate x days/360 He also found that the three month forward contract on the pound is prices ae $180 and stock index futures contract on the FTSE 100 is prices at $35350 the stock index futures price has multiplier taken into account and the beta of the FTSE 100 is 1.06 calaculate the number of contracts needed and explain whether Mr.Young will take a long or short position in order to hedge the equity market risk of Moonshine Ltd substantiate your answer