Suppose the price of wheat sold at a terminal elevator in Manitoba on 15 April 2021 was C$5.15 per bushel, and that the price of the March 2022 wheat futures contract was US$4.58 per bushel, and that the Canada-US exchange rate was US$0.71/C$1.00.

Use this information to answer the following two questions:

Explain these two answers.

Given the above information, what was the unadjusted basis (to the second decimal, with rounding) on April 15, 2021? -$0.57 $0.57 $0.92 None of the given answers $0.92 Given the above information, what was the adjusted basis (to the second decimal, with rounding) on April 15, 2021? -$1.30 -$1.90 None of the given answers $1.90 $1.30