1) The bank that you work for was just contacted by a customer. The customer wants to long a 1-year gold forward contract and wants a quote of the forward price. To come up with the price, you observe the following information: Current gold price = $1,700 per ounce. Current 1-year risk-free interest rate = 3% p.a. Current storage cost = 0.15% p.a. (a) (3 points) What price will you quote to the customer so that the bank will profit by $5 per ounce? (b) (2 points) The customer will compare your quote with the synthetic forward price that he/she can create. Suppose that his/her borrowing rate is 3.50%, while his/her lending rate is 2.75%. Do you think the customer will accept the bank's contract