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The spot price of an investment asset is $45 and the risk-free rate is 6.8%, 8.2% and 8.5% for one-year-, two-year- and three-year-maturity, respectively. The

The spot price of an investment asset is $45 and the risk-free rate is 6.8%, 8.2% and 8.5% for one-year-, two-year- and three-year-maturity, respectively. The asset provides an income of $7 each year - at the end of 1st year, 2nd year, and 3rd year, respectively. What is the three-year forward price?

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