The forward price with discrete compounding for an asset with storage costs and a convenience yield is given by the formula $F = (S + U) \times \frac{(1 + r)^T}{(1 + y)^T}$, where $S$ is the spot price, $U$ is the present value of storage costs, $r$ is the risk-free rate, $y$ is the convenience yield, and $T$ is the time to maturity. Rearranging the formula to solve for $y$: $(1 + y)^T = \frac{(S + U) \times (1 + r)^T}{F}$ $(1 + y)^3 = \frac{(110 + 8) \times (1.06)^3}{95}$ $(1 + y)^3 = \frac{118 \times 1.191016}{95} = \frac{140.54}{95} = 1.47937$ $1 + y = (1.47937)^{1/3} = 1.1394$$y = 0.1394$or `$13.94`%$.