Problem 4. (15 points) A one-year long forward contract on a non-dividend-paying stock is entered into when the stock price is $50 and the risk-free rate of interest is 8% per annum with continuous compounding. a) What are the forward price and the initial value of the forward contract? Six months later, the price of the stock is $60 and the risk-free interest rate is still 8%. b) What are the forward price and the value of a new six-month forward contract? c) What are the forward price and the value of the old forward contract