Suppose the value of the S&P $500$ stock index is currently $$4,000.$

Required:

If the $1-$year T$-$bill rate is $3\%$ and the expected dividend yield on the S&P $500$ is $2\%,$ what should the $1-$year maturity futures price be$?$

What if the T$-$bill rate is less than the dividend yield, for example, $1\%?$