Suppose the value of the S&P $500$ Stock Index is currently $$1,900.$ If the one$-$year T$-$bill rate is $5\mathrm{.}4\%$ and the expected dividend yield on the S&P $500$ is $4\mathrm{.}8\%.$

a$.$ What should the one$-$year maturity futures price be$?($Do not round intermediate calculations.$)$

Futures price $

b$.$ What would the one$-$year maturity futures price be$,$ if the T$-$bill rate is less than the dividend yield, for example, $3\mathrm{.}8\%?($Do not round intermediate calculations.$)$

Futures price