Show work in excel suppose that the current price of gold is $$1,765$peroz and that gold may be stored costlessly$.$ Suppose also that the term structure is flat with a continuously compounded rate of interest of $6\%$ for all maturities.

$($a$)$ Calculate the forward price of gold for delivery in three months.

$($b$)$ Now suppose it costs $$1$ per oz per month to store gold $($payable monthly in advance$).$ What is the new forward price?

$($c$)$ Assume storage costs are as in part $($b$).$ If the forward price is given to be $$1,805$ per oz$,$ explain whether there is an arbitrage opportunity and how to exploit it$.$