Suppose you want to hedge a $280 million bond portfolio with a duration of 8.9 years using 10-year Treasury note futures with a duration of 6.8 years, a futures price of 103, and 100 days to expiration. The multiplier on Treasury note futures is $100,000. How many contracts do you buy or sell? (Do not round intermediate calculations. Round your answer to the nearest whole number.)

Contracts

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