A fixed interest security pays coupons of $8\%$ pa half$-$yearly in arrear and is redeemable at $110\%.$

Two months before the next coupon is due, an investor negotiates a forward contract in which he

agrees to buy $60,000$ nominal of the security in six months$$ time. The current price of the stock

is $80\mathrm{.}40$ per $100$ nominal and the risk$-$free force of interest is $5\%$ pa$.$ Calculate the forward

price.