Problem 2. Assume continuous time for any calculation (Use 4 decimal places) (Years of 365 days) You want to value 1 forward contract to 240 days on a share that is listed on the BMV It is expected to pay dividends as shown in the table:

		Price
Share	VALUEGFO	75.23		6	102
	t=0	t=30	t=60	t=90	t=120	t=150	t=180	t=210	t=240	t=270
Dividends	0	0.7523	0	0	0.7523	0	2.2569	0	0	1.5046

and where the curves of interest behave as follows:

	t=0	t=30	t=60	t=90	t=120	t=150	t=180	t=210	t=240	t=270
TLR (USD)	4.5%	3.8%	5.0%	5.0%	5.0%	5.5%	5.5%	5.5%	5.5%	6.0%
TLR (MXP)	7.5%	6.8%	8.0%	8.0%	8.0%	8.5%	8.5%	8.5%	8.5%	9.0%

1) What is the price that must be given to the Forward so that there is no arbitrage opportunity?

2) How much would the Forward price be if there were no dividends?

3) If the listed price of the forward is: 75.73 Describe the steps to follow in order to obtain arbitrage profit.

Use the forward calculated in point 2)