Question 4 4 points Saved Today refers to the 2/26/16 Wall Street Journal. (The answers would be the same if today were 05/19/21) Futures prices are related to the following: spot price, cost of carry (financing cost + storage cost) & convenience value. Fill out the boxes in columns (b), (c) & (d) of the table below to indicate whether these costs are positive (+), negative (-) or zero (0) by placing +, - or 0 in the appropriate box where Column (a) represents the Financing Cost (FC) in a cash & carry arbitrage. Since the FC is a cash outflow, this column is all + as shown. Column (b) represents the Storage Cost (SC) in today's market. Column (C) represents the sum of these costs (FC + SC) in today's market. Column (d) represents the Convenience Value in today's market. NOTE: Cash Outflows are positive (+) costs; Cash Inflows are negative (-) costs. In column (e), indicate whether the market structure of the futures contracts on these commodities, as evidenced by the prices today, are in contango or backwardation by placing a Cor B in column (e). (a) (b) (c) (d) (e) Commodity Financing Storage Cost Cost Convenience Value Market Structure Financing Cost + Storage Cost + + GOLD SP500 BONDS COPPER + + For the SP500 futures contract, the answers to columns (b), (c), (d) and (e) are respectively +, +, +, B 7,0,B o+, +, +, C ;-,0, C