Which of the following statement is/are true? i. The forward price is the expected future spot price. For example, if the price of a non-dividend paying stock is expected to be $100 after 1 year, then the 1-year forward price of the stock is $100. ii. Other things remaining the same, the greater the convenience yield of a commodity, the greater is its forward price.

a.

i only

b.

ii only

c.

Both statements

d.

Neither statement