Suppose there is an active lease market for gold in which arbitrageurs can short or lend out goid at a lease rate of 1.4%. Assume gold has no other costs/bene ts of carry. Consider a 3-month forward contract on gold. Assume the spot price of gold is $1,704 /oz and the 3-month interest rate is 4.3%. Suppose the market forward price is given to be $1,730 /oz. Calculate the cashflow at maturity of the cash \& carry strategy. Express the cash-flow (use - to indicate a negative cash-flow) of the cash \& carry strategy in $ with a margin of error +/0.01