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What would be the value of a forward contract written on a stock priced at $100 that expires in three years, if at the end

What would be the value of a forward contract written on a stock priced at $100 that expires in three years, if at the end of the first year the stock price is $115.50. The commodity requires $5 per year to store and discrete risk-free rate is 4 percent?

a. $9.93

b. $6.49

c. $804

d. $4.65

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