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6. A BCD stock pays a $1 dividend every 3 months. The current price is $50 and the first dividend coming 3 months from now.

6. A BCD stock pays a $1 dividend every 3 months. The current price is $50 and the first dividend coming 3 months from now. The con- tinuously compounded risk-free rate is 6%. What is the price of the prepaid forward contract that expires 1 year from today, immediately after the fourth-quarter dividend? What is the price of a forward contract that expires at the same time?

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