Which of the following statements is/are true? (Be careful about the signs)

i. A 9-month forward contract was initiated 1 months ago (has 8 months remaining to maturity). The delivery price is $290 and the forward price now is $265. If the interest rate is 10% per annum continuously compounded, the value of the contract to a person holding a long position is -$20.529. ii. A 1-year forward contract was initiated 3 months ago (has 9 months remaining to maturity). The delivery price is $80, and the forward price now of this contract is $85. If the interest rate is 10% per annum continuously compounded, the value of the contract to a person holding a short position is $4.116.

Select one:

a. i only

b. ii only

c. Both i and ii

d. Neither i nor ii