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50.The oil price is currently $95 per barrel. The risk-free interest rate is 3% per annum, and the convenience yield of oil is 4% per

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50.The oil price is currently $95 per barrel. The risk-free interest rate is 3% per annum, and the convenience yield of oil is 4% per annum. Consider an oil futures contract with a maturity of 6 months. Assuming the 6 months storage cost is equal to $1.50 per barrel, the no-arbitrage futures price is closest to: (a) 95.02 (b) 95.55 (c) 96.02 (d)96.55

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