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A 1-year gold futures contract is selling for $2,175. Spot gold prices are $2,088 and the 1-year risk-free rate is 4%. The arbitrage profit implied

A 1-year gold futures contract is selling for $2,175. Spot gold prices are $2,088 and the 1-year risk-free rate is 4%.

The arbitrage profit implied by these prices is _____________.

$1.51

$2.63

$3.48

please show work need answer as soon as possible

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