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The fair price of a one-year futures contract on a commodity is $68.40. If the one-year storage cost of the underlying commodity is 2.2% and

The fair price of a one-year futures contract on a commodity is $68.40. If the one-year storage cost of the underlying commodity is 2.2% and the one-year risk-free rate is 3.7%, which of the following is closest to the spot price of the commodity underlying the futures contract?

A. $63.97

B. $64.48

C. $65.21

D. $66.34

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