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Assume the current price of copper is $3.41 per pound, the six-month risk-free rate is 4% per annum with continuous compounding and the proportional storage

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Assume the current price of copper is $3.41 per pound, the six-month risk-free rate is 4% per annum with continuous compounding and the proportional storage cost of copper is 3% per annum with continuous compounding. If the forward price of the copper for delivery in six months is $3.45 per pound, what is the implied convenience yield? Your answer should be in decimals and accurate to four decimal places (i.e., 5.45% should be written as 0.0545 )

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