Theone-yearfutures price of gold is $1,213 per oz. (i.e., the futures price on a contract that expires in one year). The spot price is $1,152 per oz. and the continuous risk-free rate is 2.17% 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.

Do not round values at intermediate steps in your calculations.

Enter your answer in dollars and cents, but omit the $ symbol and commas. For example, enter $1,234.56 as 1234.56 as your answer.