Assume that there are only 3 possible outcomes for the spot price of a commodity which underlies a futures contract at the maturity of that futures contract. As seen today, these prices (i.e. those at the maturity of the futures contract) are 90, 100 or 110 & each may occur with probability 1/3, 1/3 & 1/3.

Further, assume that futures market prices are set in accordance with the theory of normal contango.

Which of the following is a potential price that could clear the market?

		105
		100
		90
		95