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The spot price of ExxonMobil is R100 with a dividend yield of 2% and the 206 days Treasury bill rate is 5.5%. The initial margin

The spot price of ExxonMobil is R100 with a dividend yield of 2% and the 206 days Treasury bill rate is 5.5%. The initial margin required for Exxon mobile futures is at 10% of the transaction value. a. Calculate the no arbitrage forward price

b. What is the profit/loss to the long position of the future contract when the price increases to R112 after 109 days?

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