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Calculate the upper and lower arb- bounds for a 2 - month futures price if the spot is $55 , the bid- ask spread is

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Calculate the upper and lower arb- bounds for a 2 - month futures price if the spot is $55 , the bid- ask spread is 70 basis points , the risk - free rate is 4. 5% , and the borrowing and lending rates are 135 basis points above and below the risk - free rate respectively

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