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Calculate convenience yield for magnoosium scrap from the following information: (Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal

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Calculate convenience yield for magnoosium scrap from the following information: (Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.) . Spot price: $2,700 per ton. Futures price: $2,558 for a one-year contract. Interest rate: 12%. Storage costs: $250 per year. Convenience yield %

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