Incorrect answer given by last expert was 1474.62, please correct. Thanks!

Consider the futures contract written on the S&P 500 Index and maturing in one year. The Interest rate is 5.2%, and the future value of dividends expected to be paid over the next year is $20. The current Index level is 1,435. Assume that you can short sell the S&P Index a. Suppose the expected rate of return on the market is 10.4%. What is the expected level of the Index in one year? (Round your answer to 2 decimal places.) Answer is complete and correct. Expected level of the index 1,564.24 b. What is the theoretical no-arbitrage price for a 1-year futures contract on the S&P 500 stock Index? (Round your answer to 2 decimal places.) Answer is not complete. Price c. Suppose the actual futures price is 1,463. Is there an arbitrage opportunity here? Yes No