The S\&P 500 Index is currently at 1,250. You manage a $10 million indexed equity portfolio. The S\&P 500 futures contract has a multiplier of $50. Required: a. If you are temporarily bearish on the stock market, how many contracts should you sell to fully eliminate your exposure over the next six months? Answer is complete but not entirely correct. b. If T-bills pay 3.2% per six months and the semiannual dividend yield is 1.2%, what is the parity value of the futures price? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is complete but not entirely correct