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The one-year futures price of gold is $1,207 per oz. The spot price is $1,160 per oz. and the continuous risk-free rate is 2.5% per

The one-year futures price of gold is $1,207 per oz. The spot price is $1,160 per oz. and the continuous risk-free rate is 2.5% per annum. The storage costs for gold are $2 per oz. payable in arrears and we assume gold provides no income. What is the arbitrage profit per 100 oz. of gold? Ignore transactions costs. (

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