On March 1 the price of coffee is $1.0595 and the July futures price is $1.046. On June 1 the price of coffee is $1.0995 and the July futures price is $1.0852. Roasters Inc. entered into a futures contracts on March 1 to hedge the purchase of coffee on June 1. It closed out its position on June 1. After taking account of the cost of hedging, what is the effective price paid by the company for the coffee?