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You are considering purchasing a long forward contract on a dividend paying stock in 6 months. The current stock price is $100. The stock is

You are considering purchasing a long forward contract on a dividend paying stock in 6 months. The current stock price is $100. The stock is expected to pay a dividend of $0.80/share in 3 months. The 3-month risk-free interest rate, with continuous compounding, is 3.1% per annum. The 6-month risk-free interest rate, with continuous compounding, is 3.9% per annum. Calculate the forward price.

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