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Spot price of silver is $21.32/oz and the quoted interest rate is 1.94% for 4 months. There are no storage or transaction costs, but

Spot price of silver is $21.32/oz and the quoted interest rate is 1.94% for 4 months. There are no storage or transaction costs, but borrowers have to pay 0.58% above the quoted rate. Determine the maximum possible no-arbitrage price for a 4-month futures contract on silver.

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