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A stock index currently stands at 4 0 5 . The risk - free rate is 5 % per annum ( with cont. comp )

A stock index currently stands at 405. The risk-free rate is 5% per annum (with cont. comp) and the dividend yield on the index is 3% per annum (with cont. comp). What should the futures price for a 8-month contract be?
(round to the nearest 0.01)

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