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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: $2,670 per ton. - Futures price: $2,528 for a one-year contract. - Interest rate: 14%. - Storage costs: $220 per year

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