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The current spot price of gold is $1700 per ounce and the one-year futures price is $1860 per ounce. If the risk-free rate is 7%

The current spot price of gold is $1700 per ounce and the one-year futures price is $1860 per ounce. If the risk-free rate is 7% and the per-ounce cost of storing gold is 2% per year, how would you develop an investment strategy to exploit the arbitrage profit? Calculate the amount.

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