The current index level of the S\&P 500 is 4565 . There exists a futures contract on the index that matures in 1 year. The cument fist free interest rate is 5:1%, and the future value of dividends expected to be paid over the next year is $20. Assume that you can short sell the SEP index. Suppose the expected rate of return on the market is 7.8%. What is the expected level of the index in 1 year? What is the theoretical no-arbitrage price for a 1-year futures contract on the S\&P 500 stock index