A trader holds gold for long-term investment. The trader can buy gold for $1020/ounce and sell gold for $1015/ounce. The trader can borrow funds at 5% and lend funds at 4.5%. (Both interest rates are per annum with continuous compounding.) Storage cost if $3/ounce per year, payable immediately when you buy the gold in the spot market. Consider a 1-year forward contract on gold. What is the range of the forward price F₀, for which the trader has no arbitrage opportunities?