You Manage a $225 Million Bond Portfolio Which Has a Duration

You manage a $225 million bond portfolio which has a duration of 6.8 years.You want to hedge this portfolio with Treasury note futures that have a duration of 7.2 years and a futures price of 114.U.S.Treasury notes futures contracts are based on a par value of $100,000 and quoted as a percentage of par.How many contracts do you need to sell to complete this hedge?

A) 1,371 contracts
B) 1,400 contracts
C) 1,550 contracts
D) 1,864 contracts
E) 2,134 contracts