The following contracts with 50 trading days (t = 50/250 = 0.20 years) to expiration and a continuously compounded annual risk-free rate of 1.5%. An equity index futures contract with the current index level of 2,364 and a continuously compounded annual dividend yield of 2.1%.

Calculate the implied annual risk-free rate if the actual market price of the equity futures contract is 2,376. How would an investor construct a portfolio to earn this rate of return?