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Consider a futures contract on a commodity 6 month prior to delivery. Pc = $434. Assume the interest rate is 5% p.a., the storage cost

Consider a futures contract on a commodity 6 month prior to delivery. Pc = $434. Assume the interest rate is 5% p.a., the storage cost = 1% p.a., the lease rate is 2% p.a. What is the no-arbitrage futures price? (Round answer to nearest integer) Answer =

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