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(10 points) Suppose that the price of stock on 1 May 2000 turns out to be 5% higher than it was on 1 January 2000.

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(10 points) Suppose that the price of stock on 1 May 2000 turns out to be 5% higher than it was on 1 January 2000. Assume that there's no dividends paid the risk-free rate is constant at r = = 7%. What is the percentage change of the forward price on 1 May 2000 as compared to that on 1 January 2000 for a forward contract with delivery on 1 October 2000? (Round your answer to the fourth decimal place)

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