Today is January 3. Your friend David has just bought a futures contract on a stock index. and the contract species one year to expiration. The current share price is $80. and the annually compounded interest rate is 10%. The stock will pay quarterly dividends of $2 during the next year. with dividends payments on the following dates: January 25 April 25 July 25 October 25 Assume that this is a non-leap year. a. What is the futures price on this contract on January 3? b. What is the cost-ofcarry on this futures contract on January 3? c. What is the value of this futures contract on February 17 if the spot price turns out to be $90 on that day? d. Suppose that. instead of paying a quarterly dividend of $2. the stock index has an annual dividend yield of 10%. The continuously compounded interest rate is 10.52%. What is the price of the index futures on January 3? What is its value on February 1? when the index turns out to be $90