Your company, Highly Frosted Corn Flakes Inc. has placed an order with Sweetums Sugar Inc. for 2,016,000 pounds of refined sugar to be delivered in 4 months at the market price at the time of delivery. Your company is concerned that the price of refined sugar may be very high in 4 months and would like to hedge this risk using currency forwards. The standard contract size for forward contract on refined sugar is 112,000 pounds. The current spot price of refined sugar is $0.10 /lb. and the current 4-month forward price is $0.12 /lb. (a) How would you hedge your company's position? Answer the question specifying whether you would take along or a short potion in forward contracts on refined sugar and the number of contracts that you take a position in