Suppose the gold spot price is $300/oz., the 1-year forward price is $310.686, and the continuously compounded risk-free rate is 5%. in class, we neglect the convenience yield for gold. in reality gold can may be lent and borrowed. some entities operating in the wholesale gold market do lend gold and earn interest on such transactions. to sum up, there is a convenience yield for gold and it takes the name of "lease rate". (a) what is the lease rate? (b) what is the return on a cash-and-carry if you cannot loan out the gold (i. e. you do not have access to the wholesale gold market)? (c) what is the return on a cash-and-carry if you do loan out the gold, earning the lease rate?