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The spot price of silver is $16.75 per ounce. The storage costs are proportional and equal to 0.95% per ounce per annum continuously compounded. Assuming

The spot price of silver is $16.75 per ounce. The storage costs are proportional and equal to 0.95% per ounce per annum continuously compounded. Assuming that interest rates are 8.45% per annum for all maturities, calculate the futures price of silver for delivery in 8 months. (Answer with two digits decimal accuracy. Example: 17.53.)

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