Which of the following is true, regarding the relationship between futures price and spot price of the underlying?

a.

At the maturity date of the futures contract, the futures price is equal to the spot price, only if the spot goods have no convenience yield.

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b.

At the maturity date of the futures contract, the futures price is equal to the spot price, even if the spot goods have cost of carry and convenience yield.

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c.

At the maturity date of the futures contract, the futures price is equal to the spot price, only if the spot goods have no cost of carry.

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d.

At the maturity date of the futures contract, the futures price is equal to the spot price, only if the spot goods have no cost of carry or convenience yield.