Now suppose Stock A is dividend-paying, with $1 dividend paid for each 3 months. The spot price of a Stock A is $5, and the risk-free rate of interest is 8% per annum with continuous compounding. (d) What are the main differences between forwards and futures? (e) What are the forward price and the initial value of a one-year forward contract on one share of Stock A? (f) Four months later, the price of the stock is $6 and the risk-free interest rate is still 8%. What are the forward price and the value of the forward contract?