A commoditys spot price as of December 31 is $50/unit, and storage costs are $1.00/unit at the end of every month, starting January 31. If the effective monthly interest rate is 0.7% (compounded monthly, not continuously), what will be the forward price for delivery at the end of July, assuming the commodity is stored?

a. $59.50
	b. $57.15
	c. $59.65
	d. $59.85
	e. $59.77