The price of crude oil today is $50.00 per barrel. Crude oil must be stored at a cost of $10.00 per barrel, payable at the end of the year. The c.c. risk-free rate is four percent. Assume there is no arbitrage. What is the one-year forward price of crude oil? (Round to Three decimal places)

The price of crude oil today is $50.00 per barrel. Crude oil must be stored at a cost of $10.00 per barrel, payable at the end of the year. The c.c. risk-free rate is four percent. Assume there is no arbitrage. What is the one-year forward price of crude oil? (Round to Three decimal places)