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The spot price of an investment asset is $60 and the risk-free rate for all maturities is 5% with continuous compounding. The asset provides an

The spot price of an investment asset is $60 and the risk-free rate for all maturities is 5% with continuous compounding. The asset provides an income of $5 at the end of years 1, 2 and 3. The 3-year forward price of the asset is closest to:

a. $53.93 b. $45.93 c. $69.71 d. $58.92

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