A one-year forward contract on a stock is entered into when the stock price is $50 and the risk-free rate of interest is 8% per annum. The interest payment is made monthly. (Assume all the interest rates are periodically compounded.) Six month later, the price of the stock is $60 and the risk free rate is 10%. What are the forward price and the value of the forward contract? Assume there is no dividend. Assume six months later, the firm changes its dividend policy and pays quarterly dividend of $2. If the price of the stock is $60 and the risk free rate is 12%. What should be the value of the forward contract