Exercise $5($choose the closest to what you find$)$

Storage and insurance costs on silver are $$2\mathrm{.}48$ per ounce every $3$ months and have just been paid.

$5$ months ago, the price of silver was $$17\mathrm{.}92$ per ounce and you took a long position in a forward

contract on silver with a quantity of $24400$ ounces and that matured in $12$ months $($at that time$).$

Now, the spot price of silver is $$18\mathrm{.}73$ per ounce. Calculate the value of your forward contract.

The risk$-$free rate has always been $5\mathrm{.}27\%.(15$ pts$)$

$($A$)$ $$-108939$

$($B$)$ $$307071$

$[$C$)$ $$601075$

$($D$)$ $$32074$