You will receive $525,000$ euros in $90$ days. The spot rate is $$1\mathrm{.}07$ and the $90$ day forward rate is $1\mathrm{.}08.$ You want to hedge with the closest hedge possible. Each Futures Contract is for $125,000$ euros.

$1)$ What is the number of Contracts you need?

$2)$ Do you want Contracts to buy or sell the euro?

$3)$ If the Spot rate in $90$ days when you receive the $525,000$ euros is actually $$1\mathrm{.}09$ what is your net exchange rate combining your Cash position $(525,000$ euros$)$ and your gain or loss on the Futures Contract? $($Show your Futures Contract calculations$)$