Assume money can be borrowed at 6 percent and invested at 5 percent per annum, both rates continuously compounded. To trade in stocks, the brokerage commission is 0.50 percent of the stock price is charged today, but there are no brokerage charges on the maturity of the forward contract. A company's stock price is $55 today. Then the seven-month forward price should lie between:

Select one:

a.$55.94 and $56.84

b.$56.04 and $56.94

c.$56.14 and $57.04

d.$56.24 and $57.14

e.$56.34 and $57.24