Consider a forward contract on a commodity with a current price of $400 and delivery time in 11 months. Assume that the risk-free rate of interest is 8% compounded monthly. The carrying cost is $5 per month paid at the beginning of each month. Assume that today is the beginning of a month, and the carrying cost payment has not been made yet. a) Find the forward price of the commodity for delivery in 11 months: $ b) Find the forward price of the commodity 7 months from now if the asset is traded at $450 at that time: $ c) What is the value of the contract 7 months from now? The contract value is $ Note: Round any dollar values to the closest cent at every intermediate step.