Assume that markets are perfect in the sense of being free from transactions cost and restrictions on short selling. The spot price of gold is $370/oz. Current interest rates are 10% compounded monthly. According to the Cost-of-Carry Model, approximately what should the price of a gold futures contract be if expiration is 6 months away. Assume that the cost of storing the gold is $0.(There are 100 ounces of gold in a gold futures contract.) $388.89 0 $381.46 $375.72 $394.63 Question 22 Which of the following statements would the Elton-Gruber-Rentzler study agree with? Returns on commodity funds were highly correlated with inflation On average, commodity funds produced large excess returns Commodity funds had relatively small transaction costs Commodity funds took initial positions which were both long and short