The effective price can be found using the following formula. S stands

for spot price, F stands for futures price, B stands for basis. Numbers

stand for time. T stands for expirations.

S$1-$F$1$

$S2+(F2-F1)$

ST$-$FT

$B2+F1$ If $S1=2,F1=2\mathrm{.}2,S2=2\mathrm{.}4$ and $F2=2\mathrm{.}3$ for corn price $(S)$ and corn

futures prices $($F$)$ at time $1$ and $2,$ both of which are before expiration

day T $,$ what is the effective price?

$2\mathrm{.}4.$

$2\mathrm{.}3.$

$2\mathrm{.}1.$

$2\mathrm{.}2.$