you are a portfolio manager of $300 million stock portfolio that has a beta of 1.3. the s&p 500 index is at 2500, s&p 500 futures contract (250 times the index) trades at 2504. the expected return on the s&p 500 is 9% and the risk-free rate is 2 %. you completely hedge your portfolio using s&p 500 index futures (in other words you use index futures contract and decrease the beta of the stock portfolio to zero) for next one year. what is your expected rate of return per annum? (no calculation is necessary)