Suppose you have a portfolio with an equity beta of 1.2 . Given the current macroeconomic uncertainty, you would like to reduce your equity exposure for the remainder of the year. However, you don't want to sell your current holdings and incur a capital gains tax. Assume that the current price on the S\&P 500 is $4000 and your portfolio value is $12 million. (Recall that each S\&P 500 futures contract controls 50x the S\&P 500 index value.) Explain how you would use S\&P 500 futures contracts to reduce your equity beta to 0.5