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A stock index currently stands at 400. The risk-free interest rate is 10% per annum and the dividend yield on the index is 5% per

A stock index currently stands at 400. The risk-free interest rate is 10% per annum and the dividend yield on the index is 5% per annum. What should the futures price for a six-month contract be? Show arbitrage strategies if the futures price in the market is $380

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