An analyst for Bloom Ltd gathered the following information with regards to futures contract:

Current spot$-$market price of R$60$

A risk$-$free interest rate of $8\mathrm{.}87\%$ per annum

The six$-$month futures contract is priced at R$62\mathrm{.}60$

The actual futures price of the contract is R$59.$

The actual futures price is $$ the theoretical futures price.

The futures price is $$

Arbitrage strategy:

$$ futures contract at R$59$

$$ the underlying R$60$

$$ at risk$-$free rate for six monthsd