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The current spot price of oil is $52 per barrel. The risk free rate is 6% per annum. Storage costs are $2.20 per barrel per

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The current spot price of oil is $52 per barrel. The risk free rate is 6% per annum. Storage costs are $2.20 per barrel per year, payable in arrears. Compute the correct futures price for a 90 day contract (use x/365 for time in the problem). The correct futures price is

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