The S&P/ASX200 Spot Contract Is at 4055,and Has a Dividend $-7.01$

Multiple Choice

The S&P/ASX200 spot contract is at 4055,and has a dividend yield of 8% p.a.The risk-free rate is 7% and the SPI futures price is currently trading at 4058.Given this information,calculate the amount by which the futures contract is mispriced according to the cost-of-carry model.

A) $-7.01$
B) $- 3.0$
C) $3.00$
D) $7.01$