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Assume that the annual borrowing rate is 2%, the spot price of West Texas intermediate (WTI) crude oil is USD 55.50 and the futures price

Assume that the annual borrowing rate is 2%, the spot price of West Texas intermediate (WTI) crude oil is USD 55.50 and the futures price of crude oil contracts expiring one year from today is USD 50.50. Calculate the convenience yield of (WTI) crude oil for delivery one year from today

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