Question $2$

In Jan $2024,$ the cash price of #$2$ cotton was $114\mathrm{.}60$ cents$/$lb$.$ Calculate the cost$-$of$-$carry of cotton from Jan $2024$ to May $2024(4$ months$)$ assuming that the borrowing interest rate is $7\%$ per year, storage and insurance rate for every pound of cotton is $0\mathrm{.}50$ cents per month, shipping cost is $0\mathrm{.}20$ cents, and no other cost. Please, enter the numeric value only $($no letter or character$).$

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