5. A manager has a position in Treasury bills worth $100 million with a yield of 2%. For the next three months, the manager wishes to have a synthetic equity position approximately equal to this value. The manager chooses S&P 500 Index futures, and that index has a dividend yield of 1%. The futures price is $1,050 and the multiplier is $250. Determine how many contracts this will require and the initial value of the synthetic stock position