It is now January. The current annual interest rate is $3\mathrm{.}2\%.$ The June futures price for gold is $$1481\mathrm{.}00,$ while the December futures

price is $$1,488.$ Assume the June contract expires in exactly $6$ months and the December contract expires in exactly $12$ months.

Required:

a$.$ Calculate the appropriate price for December futures using the parity relationship? $($Do not round intermediate calculations. Round

your answer to $2$ decimal places.$)$

Price for December futures