A one-year long forward contract on a non-dividend-paying stock is entered into when the stock price is $56 and the risk-free rate (with continuous compounding) is 8%.` (1) What are the forward price and the initial value of the forward contract?

(2) Five months later, the price of the stock is $60 and the risk-free rate is still 8%. What are the forward price and the value of the forward contract?