On August $1$ the Treasurer at Dow Chemical knows that sometime in November or December his company will need to purchase $60,000$ barrels of oil for the uninterrupted production of certain specialty plastics. He decides to hedge the price risk for this upcoming purchase. Oil futures contracts are currently traded for delivery every month by the CME Group and the contract size is $1,000$ barrels. The Treasurer decides to use the December contract to hedge the exposure and takes a long position in $60$ DEC contracts. The price at which he buys the contracts on August $1$ is $$40$ per barrel when the spot price is $$39\mathrm{.}50.$

On November $5,$ the production manager calls and says that they need to go ahead and purchase oil in order to ensure uninterrupted production. The DEC Futures price $($F$)$ and the Spot price $($S$)$ on November $5$ are $$36\mathrm{.}50$ and $$35\mathrm{.}00,$ respectively.

The treasurer goes ahead and, on Nov $5,$ buys $60,000$ barrels of oil in the spot market and unwinds the hedge.

What is the effective price per barrel the company is paying for this purchase?