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The spot price of corn is $17.2 per bushel. Storage costs are $0.32 per bushel per...

The spot price of corn is $17.2 per bushel. Storage costs are $0.32 per bushel per year. Payment of storage costs occurs in advance for the next three months. Assuming that interest rates are 7% per annum, calculate the forward price of corn for delivery in 12 months.

Appreciate if you show me the calculation steps. Thank you!!

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Please find the answer in given screen shot,

jeff jeffy answered 3 days ago
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