Consider a non-dividend paying stock with current price $296.83. The 1-year spot rate is 2.6% and a futures contract on the stock with maturity 1 year is trading at $310.64. Suppose you borrow so that you can buy 290 shares of the stock. Moreover, you sell 290 futures contracts. The payoff of your position at maturity is $ 2261.51 o indeterminate due to insufficient information $ 1766.8 $ 1519.45