Consider a single-stock futures contract on Apple stock. Suppose that the contract expires before Apples next cash dividend. Consider the following scenario:

• Continuously compounded, annualized risk-free interest rate: r = 4.55%.
• Current spot price of Apple stock: $534.63 per share.
• Contract expiration: T = 2 months.
• Futures price on Apple single-stock futures: $550 per share.

An arbitrage opportunity exists. What is the net profit per share when the futures contract expires? Use a strategy that has zero net cash flows today.

Do not round values at intermediate steps in your calculations. Enter your answer in dollars and cents, but omit the $ symbol and commas. For example, enter $1,234.56 as 1234.56 as your answer.