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An analyst at an investment company is estimating the price of the S&P 500 Index futures contract maturing in 6 months. The analyst collects the following market information:
Current level of the S&P 500 Index: USD 3,200
Risk-free interest rate: 1.80% per year
Dividend yield: 2.40% per year
Which of the following values is the closest to the price of a 6-month S&P 500 futures contract?
A
USD 3,181
B
USD 3,191
C
USD 3,209
D
USD 3,229