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Suppose the spot price of winter wheat is $5.98 per bushel. Storage costs are $0.1 per bushel every 4 months and are payable in

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Suppose the spot price of winter wheat is $5.98 per bushel. Storage costs are $0.1 per bushel every 4 months and are payable in advance. The interest rate is 3 percent per year with continuous compounding. Assume that winter wheat is a pure consumption commodity. Suppose the actual quoted price for a 8-month forward contract is $6.18 per bushel. What's the implied convenience yield, y, of winter wheat. Please keep at least 4 decimal places during your work process. Round the FINAL number solution to 4 decimal places. Your answer:

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