(Solved): 1. (5p) A long forward contract on a dividend-paying stock was entered some time ago. It currently ...

1. (5p) A long forward contract on a dividend-paying stock was entered some time ago. It currently has 12 months to maturity. The risk-free rate of interest with quarterly compounding is 6.05 % per annum for all maturities. The delivery price is $95. The stock price is $100, dividends of $2.00 per share are expected after 3 months, 6 months, and 9 months. What is the value of this long forward contract?