A trader owns a commodity that provides no income and has no storage costs as part of a long-term investment portfolio. The trader can buy the commodity for $25 per ounce and sell it for $24.80 per ounce. The trader can borrow funds at 6% per year and invest funds at 5.5% per year. Both interest rates are expressed with continuous compounding. Assuming there is no bid-offer spread for forward prices, under which of the following 6-month forward price does the trader have o arbitrage opportunity?