The S&P 500 Index is currently at 1,500. You manage a $18 million indexed equity portfolio. The S&P 500 futures contract has a multiplier of $250. 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? If T-bills pay 2.0% per six months and the semiannual dividend yield is 1.8%, what is the parity value of the futures price? (Do not round intermediate calculations.) Instead of holding an indexed portfolio, you hold a portfolio of only one stock with a beta of 0.6, how many contracts would you now choose to sell? (Round your answer to the nearest whole number.)