On September 10, a US-based MNC with a customer in Singapore expects to receive SGD 375,000. The current spot exchange rate is USD 0.5950 / SGD. The transfer will occur on December 10, which is the expiration date for a CME futures contract priced at USD 0.607 / SGD. The size of the CME futures contract is SGD 125,000. What number of (i.e., how many) futures contracts should the US-based MNC enter into in order to perfectly hedge their position?