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Suppose you want to hedge a $230 million bond portfolio with a duration of 5.3 years using 10-year Treasury note futures with a duration of

Suppose you want to hedge a $230 million bond portfolio with a duration of 5.3 years using 10-year Treasury note futures with a duration of 6.8 years, a futures price of 108, and 9 months to expiration. The multiplier on Treasury note futures is $100,000. How many contracts do you buy or sell? (Round your answer to the nearest whole number.)

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