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Select all the market conditions that apply to the situation below. An asset's spot price is $78/unit and its expected 90-future spot price reflects $6/unit

Select all the market conditions that apply to the situation below. An asset's spot price is $78/unit and its expected 90-future spot price reflects $6/unit storage costs, $1/unit net interest, and $3/unit risk premium. The asset's 90-day forward price is $85/unit.

Backwardation

Normal backwardation

Contango

Normal contango

(Must pick two options)

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