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7. A stock has a current price of $20. The risk-free interest rate for one-year maturity is 6% and the dividend patment is $2. Assume

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7. A stock has a current price of $20. The risk-free interest rate for one-year maturity is 6% and the dividend patment is $2. Assume continuous compounding. What is th six-month forward price of the stock? (a) $20.30 (b) $20.61 (c) $19.11 (d) $21.24 (e) None of the above

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