The spot price of light, sweet crude oil is $97.71 per bbl., and the futures price of the NYMEX March light, sweet crude oil futures contract is $108.37 per bbl. This contract expires in 4 months. The continuously compounded 4-month risk-free rate is 2.91% per year. The storage cost is $1.86 per barrel for 4 months, payable in advance. What is the arbitrage profit per 1,000 bbl.? 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.

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The spot price of light, sweet crude oil is $95.95 per bbl., and the futures price of the NYMEX March light, sweet crude oil futures contract is $108.99 per bbl. This contract expires in 4 months. The continuously compounded 4-month risk-free rate is 2.48% per year. The storage cost is $1.67 per barrel for 4 months, payable in advance. What is the arbitrage profit per 1,000 bbl.? 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.

Answer 10,559.66