On May 1, the share price of Company Monash is $60 and its December futures price is $54.7. On July 1 the share price is changed to $64 and its December futures price is changed to $64. An investor entered into futures contracts on May 1 to hedge his/her purchase of the share of Company Monash on July 1. The investor closed out his/her position on July 1. What is the effective price (after taking account of hedging) paid by the investor?