The picture below is a similar example. Answer only 1. on the top, not 5. Use 5 for reference if helpful

(1) An investor takes a long position in a 6-month forward contract in April on a stock that pays a dividend of $3 in July. The stock price is $50 in April. In July after the dividend payout, the stock price is $60. What is the value of the investor's forward contract in July? Assume the simple interest rates are 2% for three months and 4% for six months. 5. An investor takes a long position in a 6-month forward contract in April on a stock with the forward price $100 per share. In July, the 3-month forward contract on the same stock has a delivery price of $110. What is the value of the investor's forward contract in July? Assume the simple interest rate is 10% per annum. The two forward prices have the same maturity date. So, the value of 6-month forward in July = (110100)/1.025=$9.76