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Suppose the value of the S&P 500 Stock Index is currently $1, 900 If the one-year T bill rate is 5.4% and the expected dividend

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Suppose the value of the S&P 500 Stock Index is currently $1, 900 If the one-year T bill rate is 5.4% and the expected dividend yield on the S&P 500 is 4 8%. What should the one-year maturity futures price be? (Do not round intermediate calculations.) What would the one-year maturity futures price be, if the T-bill rate is less than the dividend yield, for example, 3 8%? (Do not round intermediate calculations.)

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