Consider a 2-year forward that was written one year ago (the "old 1-year forward"), a 1-year forward that was written this morning (the "new 1-year forward"), and a 2-year forward that was written this morning (the "new 2-year forward"). If the stock grew at the risk-free rate last year, how much would you be willing to pay for the "old 1-year forward"?

a)the forward price of the "new 2-year forward"

b)the forward price of the "new 1-year forward"

c)nothing