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On 8/15/2019, a 3-year forward contract, expiring 8/15/2022, on a non-dividend-paying stock was entered into when the stock price was $52 and the risk-free interest
On 8/15/2019, a 3-year forward contract, expiring 8/15/2022, on a non-dividend-paying stock was entered into when the stock price was $52 and the risk-free interest rate was 10.1% per annum with continuous compounding. 1 year later, on 8/15/2020, the stock price becomes $55. What is the "delivery" price of the forward contract entered into on 8/15/2019?
Round your answer to the nearest 2 decimal points. For example, if your answer is $12.345, then enter "12.35" in the answer box.
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