x? ADA I Normal I No Spac... Heading 1 Heading 2 Title > > Replace W Select Dic ont Paragraph Styles Editing Vo A company wishes to use financial futures to hedge its interest rate exposure. The company will sell 10 Treasury futures contracts at $137k per contract. It is Jul and the contracts must be closed out in Dec of this year. Long-term interest rates are currently 13.34%. If they increase to 14.68%, assume the value of the contracts will go down by 6%. Also, if interest rates do increase by 1.92%, assume the firm will have additional interest expense on its business loans and other commitments of $53k. This expense will be separate from the futures contracts. Required: What percent of this $53k cost did the company effectively hedge away?( }% Note: The term "K" is used to represent thousands (* $1,000) Note: Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places (for example: 28.31%). lish (United States) D Focus 20 W