Question: A stock's current price is 97 and it has declared dividends of $1.2/share each to be paid in 38 days, 158 days, and 278 days

A stock's current price is 97 and it has declared dividends of $1.2/share each to be paid in 38 days, 158 days, and 278 days from now. You are purchasing a 300-day forward contract. (Assume that the risk free rate is 2%.) What is the value of this forward contract 200 days after initiation, if the stock's price at that time is 92?

Answer is -3.64 Please provide a detailed solution

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