Consider a 11 month forward contract on an asset that is


Consider a 11 month forward contract on an asset that is expected to provide an income equal to1 % of the asset price once every 1 months. The risk-free rate of interest with continuous compounding is 9 % per annum. The initial asset price is $ 49. Suppose that 3 months later, the asset price increases by 0.81 % and risk-free interest rate remains the same, what is the value of short forward contract? Round your final answer to 4 decimal places.

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Financial Management: Consider a 11 month forward contract on an asset that is
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