Question: You bought a forward contract on Jan 1 when the forward price was $50/share, and the simple interest rate was 5% per year. You are

You bought a forward contract on Jan 1 when the forward price was $50/share, and the simple interest rate was 5% per year. You are now sitting at Apr 1 of that same year (1/4 of the way through the year), and the spot price is $75 per share. What is the current value of your forward contract (on Apr 1)? State your answer to the nearest penny and don't include symbols in your answer (such as $). i.e., $20.21 is 20.21.

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