Consider a futures contract that expires in one year and 3 months , on a treasury bond with the following characteristics: $1 face value Treasury bond that pays interest at 7% semiannually. The bond has exactly 5 years remaining, so during that time it will pay 10 coupons, each 6 months apart. The yield on the bond is 8%. The price of the bond is found by calculating the present value of both the 10 coupons and the face value, the price is $0.9594. The risk free rate is 6.5%. The futures price is closer to: