$(5$ pts$.)$ Your firm is a U$.$K$.-$based exporter of British bicycles. You have sold an order to an Italian firm for $1,000,000$ worth of bicycles. Payment from the Italian firm $($in $)$ is due in twelve months. Your firm wants to hedge the receivable into pounds. Not dollars. Use the following table for exchange rate data.

Detail a strategy using futures contracts that will hedge your exchange rate risk. Have an estimate of how many contracts of what type.