Suppose that the value of the S&P $500$ stock index is $4,800.$

Required:

a$.$ If each E$-$mini futures contract $($with a contract multiplier of $$50)$ costs $$29$ to trade with a

discount broker, how much is the transaction cost per dollar of stock controlled by the

futures contract?

Note: Do not round your intermediate calculations. Round your answer to $5$ decimal

places.

b$.$ If the average price of a share on the NYSE is about $$59,$ how much is the transaction cost

per "typical share" controlled by one futures contract?

Note: Do not round your intermediate calculations. Round your answer to $5$ decimal

places.

c$.$ For small investors, a typical transaction cost $($including the bid$-$ask spread$)$ for direct trades

in stocks might be about $9$ cents per share. How many times the transactions costs in

futures markets is this?

Note: Do not round your intermediate calculations. Round your answer to $2$ decimal

places.

Answer is complete but not entirely correct.