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A stock has a current price of $20. The risk-free interest rate for a half-year maturity is 6% and the dividend rate is 3%. Assume continuous...

15. A stock has a current price of $20. The risk-free interest rate for a half-year maturity is 6% and the dividend rate is 3%. Assume continuous compounding. What is the six-month forward price of the stock? (a) $20.30 (b) $20.61 (c) $20.92 (d) $21.24

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