Consider a treasury bond futures contract. You have identified the cheapest to deliver bond in the treasury bond futures contract. The current quoted bond price is $116 and the accrued interest on the bond is 1.8. The present value of the coupon payments on the bond between now and the delivery of the futures contract is $4.5. The accrued interest on the bond at the time of futures delivery will be 2.3. The conversion factor for the bond is 1.04. An investment of $1 at the risk-free rate will grow to $1.04 at the time of the futures delivery. Calculate the quoted futures price for the contract.