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You are a producer of coal. You expect to produce 1 0 0 tons in 6 months and 1 2 0 tons in 1 2

You are a producer of coal. You expect to produce 100 tons in 6 months and 120 tons in 12 months.
The futures contract price for coal is $1,500 per ton in 6 months and $1,650 per ton in 12 months.
The 6-month T-bill has a yield of 2.45%, and the 12-month T-bill has a yield of 6.42%. These are actual returns, not YTM where by convention the number reported in 2 x 6-mo rate.
Assume all transaction costs are zero.
You enter into futures contracts and buy and sell T-bills so that you have a fixed amount of dollars today with no other cash flows at any other point in time. How many dollars will you have today?

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