The current futures for WTI Crude are show below. Each contract is for 1,000 barrels (bbl). Assume the spot price today, on 9/26/2016, is 45.25. Month Last price Change Open High Low Nov 2016 45.59 +1.11 44.62 46.20 44.43 Dec 46.14 +1.07 45.18 46.76 45.01 2016 Jan 46.74 +1.05 45.83 47.35 45.62 2017 Feb 2017 47.29 +1.01 46.65 47.91 46.22 Oct 2017 50.24 +1.15 49.71 50.55 49.71 You believe markets are efficient and the futures contracts are priced fairly. What is the implied convenience yield built into the Dec 2016 futures contract? Assume the risk-free rate and cost of storage are 1.50% and 10% per annum respectively, compounded continuously. There are 80 days until expiration of the Dec 2016 contract. Pick the best answer. You believe markets are efficient and the futures contracts are priced fairly. What is the implied convenience yield built into the Dec 2016 futures contract? Assume the risk-free rate and cost of storage are 1.50% and 10% per annum respectively, compounded continuously. There are 80 days until expiration of the Dec 2016 contract. Pick the best answer. O convenience yields 2.00% 0 2.00%