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The current spot price of orange juice is $1.29 per pound and the six-month orange juice futures price is $1.20 per pound. The proportional storage

The current spot price of orange juice is $1.29 per pound and the six-month orange juice futures price is $1.20 per pound. The proportional storage cost of orange juice is 4.5% per annum with continuous compounding. The interest rate is 1.5% per annum for all maturities with continuous compounding. What is the current convenience yield? (Your answer should be in decimals and accurate to three decimal places, i.e. 5.4% should be written as 0.054).

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