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1. Consider a single stock futures contract on the stock of Brandex, a company that currently pays no dividends. Each contract calls for delivery of

1.

Consider a single stock futures contract on the stock of Brandex, a company that currently pays no dividends.
Each contract calls for delivery of 1,000 shares of stock in one year. The one-year T-bill rate is 4.00%.
If Brandex stock now sells for $115.00,
What should be the Brandex 1-year stock futures price?
Enter your answer in the following format: 123.45

Hint: Answer is between 107.64 and 130.36

____________?

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