23.

The risk free rate is 3% annually compounded. The beta of an asset with respect to the market portfolio is 1.5. The expected return on the market is 6% annually compounded. The futures price of a futures contract on the asset with 6 months to its delivery date is $200. The expected future spot price of the asset on the futures contract's delivery date is closest to: O a $204.55 b. $202.55 OC. $203.55