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Tim Jun, CFA, believes he has identified an arbitrage opportunity for a commodity as indicated by...

Tim Jun, CFA, believes he has identified an arbitrage opportunity for a commodity as indicated by the following information:

Spot price for commodity                                          $1,900

Futures price for commodity expiring in 1 year         $1,930

Interest rate for 1 year 2%

Calculate the arbitrage profit for the profitable arbitrage strategy.

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