Exercise 12.3.6 A manufacturer needs to acquire gold in 3 months. The following options are open to her: (1) Buy the gold now or (2) go long one 3-month gold futures contract and take delivery in 3 months. If she buys the gold now, the money that has been tied up could be invested in money market instruments. This is the opportunity cost of buying physical gold.What is the cost of carry for owning 100 ounces of gold at $350 per ounce for a year if the T-bills are yielding an annually compounded rate of 6%?