The spot price of soybean is 4.28 $/bushel and the 6-month soybean futures price is 4.36 $/bushel. The annual continuously compounded storage rate is 0.7% and interest rate is 4%. What is annualized convenience yield related to the 6-month soybean contract?

Please state the formula used

(a) 1.1%

(b) 1.0%

(c) 0.9%

(d) 0.8%