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Your investment position consists of (i) hand-picked stocks with a total market value of $10,000,000 and a systematic risk of =1.4, and (ii) a short

Your investment position consists of (i) hand-picked stocks with a total market value of $10,000,000 and a systematic risk of =1.4, and (ii) a short position in 7 futures contract on S&P 500 index. Find the systematic risk () of your total investment position if the futures index price is 2000 and the futures contract is for $250 times the index.

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