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What is the futures price

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A one-year long futures contract on crude oil is entered into when the spot price is $34/bbl. and the risk-free rate of interest is 1.2% per annum with continuous compounding. The cost to store a barrel of oil is $2.00/bbl. per year, payable at the end of the year. Please assume there is no convenience yield.

What is the futures price? (Round answer to two decimals. Do not round intermediate calculations)

Reference no: EM133111696

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