The 4-month futures price on a non-dividend-paying stock is $23.60.The risk-free rate is 2.25 percent and the market rate is 10.45 percent.What is the spot rate for this stock if spot-futures parity exists?
A) $23.39
B) $23.43
C) $23.51
D) $23.64
E) $23.78
Correct Answer:
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