24 An analyst gathers the following information about a futures contract expiring in six months:

Calls	Puts
N(d₁) = 0.45	N(-d₁) = 0.55
N(d₂) = 0.41	N(-d₂) = 0.58

The exercise price is $100 and the futures contract is priced at$101.25. Using the Black model, the value of a European call on the futures contract is the present value of: