The spot price of copper is $0.60 per pound. Suppose that the futures prices (dollars per pound)

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The spot price of copper is $0.60 per pound. Suppose that the futures prices (dollars per pound) are as follows: 3 months 0.59 6 months 0.57 9 months 0.54 12 months 0.50 The volatility of the price of copper is 40% per annum and the risk-free rate is 6% per ?

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