A manager has just taken a short position in a one-year forward contract on a common stock. The stock is traded at $30 a share. It is expected that the stock will pay a dividend of $0.5 in 8 months. The risk-free rate of interest is 5% per annum with continuous compounding, and the term structure is flat. What is the stock forward price? Six months later, if the price of the stock is $31, what will be the value of the forward to the manager?