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27-15 Convenience yield Calculate convenience yield for magnoosium scrap from the following information: Spot price: $2,690 per ton. Futures price: $2,548 for a one-year contract.

27-15 Convenience yield Calculate convenience yield for magnoosium scrap from the following information: Spot price: $2,690 per ton. Futures price: $2,548 for a one-year contract. Interest rate: 10%. Storage costs: $240 per year. Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place

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