Assuming you took a Long position in 1 year Forward contract on 1,000 Red Copper that is currently priced at $20,000 each. The storage cost for 1 year is expected to be $140 each, to be paid in advance every quarter. The risk-free rate is 8% p.a. for all maturities. Compute the arbitrage profit or loss for each Red Copper if the Forward price at end of the year is quoted as $22,000. Answer: Arbitrage profit $813

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