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Corn spot price is 610 and the 24-month futures price is 570. Given a lease rate of 7.0% and risk-free rate 4% on the 24-month

Corn spot price is 610 and the 24-month futures price is 570. Given a lease rate of 7.0% and risk-free rate 4% on the 24-month corn forward contract, what is the approximate potential arbitrage profit per contract?

3.68 cents

4.48 cents

5.84 cents

6.90 cents

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