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General Electric stock is priced at $23 on April 24. The current annual rate of interest is 10%. The company is expected to pay a

General Electric stock is priced at $23 on April 24. The current annual rate of interest is 10%. The company is expected to pay a dividend of $1 on May 15. What is the appropriate price for a June futures contract on General Electric that expires on June 20? Assume there are 365 days in a year.

$21.79
$22.36
$23.37
$24.38

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