On August 29, a portfolio manager is holding a portfolio of stocks worth $3,783.210. The manager expects the stock market as a whole to fall substantially over the next three months and wants to protect the portfolio Beta Price 40.50 Number of Shares 11,350.00 Market Value 459,675.00 Weight 0.12 0.95 Beneficial Corp. Cummins Engine Gillette 1.10 ORS 115 Kmart 64.50 62.00 33.00 49.00 42.62 87.38 20.62 10,950.00 12,400.00 5,500.00 4,600.00 6,750.00 11,400.00 7,650.00 0.19 0.20 0.05 0.06 0.08 Boeing W.R. Grace Ell Lilly Parker Pen 1.15 706,275.00 768,800.00 181,500.00 225,400.00 287,685.00 996,132.00 157,743.00 3.783,210.00 100 0.26 0.04 1.00 1. Find the Beta for the Portfolio. Find the Market Price for one Mini Futures Contract. Remember the Multiplier is now 50. Find the number of Futures Contracts that that should be held short to hedge the position. What are some of the problems that could occur that would cause the hedge to