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2 ) The current spot price of cotton is 8 0 TL per kg . The current annual interest rate in Turkey is 4 0

2) The current spot price of cotton is 80 TL per kg. The current annual interest rate in Turkey is 40%. The annual cost of insuring and storing one ton of cotton in Turkey is 12000 TL. Given this information; calculate the thoretical price of a cotton futures contract (which deliver one ton of cotton) with 3 months remaining to maturity. (Just write the correct numerical answer using simple interest rate approach and assuming 360 days in a year)

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