In real-life borrowing rates are higher than lending rates. Suppose that you can borrow at r1 = 4% but can only invest at r2 = 2%. Both rates are annualized, continuously compounded. Given that S0 = 70 and the asset pays continuous dividends of δ = 2%, derive the range of 2-year forward prices on this asset that are consistent with no-arbitrage. Use cash-and-carry strategies to justify your answer