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The spot price of silver is $20 per ounce. The storage costs are $0.40 per ounce per year payable quarterly in advance. Assuming that interest

The spot price of silver is $20 per ounce. The storage costs are $0.40 per ounce per year payable quarterly in advance. Assuming that interest rates are 10% per annum for all maturities, calculate the futures price of silver for delivery in nine months.

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