please do it 20 minutes will upvote

9. Answer both parts of this question. (a) 1,000,000 Use the following information: Portfolio value to be hedged: Current FTSE100 index: Portfolio beta: 3500 1.5 Expected index dividend yield: 4% Return on one-month Treasury Bill 3% Value of futures contract 10 per index point i. What is the actual cost-of-carry for the index? Explain your answer briefly. (4 marks) ii. Estimate the price for an index futures contract with delivery in 1 year. (5 marks) iii. How many contracts are needed to provide an optimal hedge for the equity portfolio