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On 8/15/2017, a 3-year forward contract, expiring 8/15/2020, on a non-dividend-paying stock was entered into when the stock price was $51 and the risk-free interest
On 8/15/2017, a 3-year forward contract, expiring 8/15/2020, on a non-dividend-paying stock was entered into when the stock price was $51 and the risk-free interest rate was 10.8% per annum with continuous compounding. 1 year later, on 8/15/2018, the stock price becomes $55. What is the "delivery" price of the forward contract entered into on 8/15/2017?
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