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Stock D is a non-dividend paying stock with spot price $13. The current 3 year risk free interest is 3.25%. You bought forward the stock

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Stock D is a non-dividend paying stock with spot price $13. The current 3 year risk free interest is 3.25%. You bought forward the stock at the forward price with maturity three years. After one year, at t-1, the spot price of the stock is $8 and the two year interet rate is 7.00%. What is the mark to market at t 1? Answer: -$4.50

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