Use below information for Questions 5 to 8:

Company X entered into a six-month short forward agreement on a stock at T = 0. The stock price was TRY57 and it was expected to pay a dividend of TRY3 per share in two months and in five months. The risk-free rate of interest was 19% per annum with continuous compounding for all maturities. 3 months later, the price of the stock became TRY45 and the risk-free rate of interest became 13% per annum with continuous compounding for all maturities. The price of the stock was at TRY58 when the forward matured. Q-5) Calculate the value of the Company Xs forward contract as at T = 0. (Use for loss.) Q-6) Calculate the new forward price at T 3 months. Q-7) Calculate the value of the Company X's forward contract as at T = 3 months. (Use for loss.) Q-8) Calculate the value of the Company Xs forward contract at maturity. (Use for loss.) -