Five months ago, a stock was expected to pay a dividend of $0.90 per share in one month, in four months and in seven months. The stock price was $25, and the risk-free rate of interest was 8% per annum with continuous compounding for all maturities. You had taken a short position in a nine- month forward contract on the stock.

Today, the price of the stock has become $26 and the risk-free rate of interest is still 8% per annum. What is the value your position?