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Question 24 Morris Moneybaggs, CFA, believes he has identified an arbitrage opportunity for a commodity as indicated by the information given in the following exhibit:

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Question 24 Morris Moneybaggs, CFA, believes he has identified an arbitrage opportunity for a commodity as indicated by the information given in the following exhibit: Spot price for commodity $50 Futures price for commodity expiring in 1 year $60 Interest rate for one year 10% If Morris exploits this opportunity, what is the arbitrage profit? Round your answer to two decimal points

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