On July 1, 2018 Dan entered into a forward contract to buy 10,000 shares of XYZ Corp.
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On July 1, 2018 Dan entered into a forward contract to buy 10,000 shares of XYZ Corp. for $520,000 on on July 1, 2019. It is now October 1, 2018, the current price of one share of XYZ Corp. is $50 and the nine-month forward price of one share of XYZ Corp. is $54. XYZ Corp. will not pay any dividends over the life of the contract. What is the value of Dan's forward contract?
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