Consider a forward contract to buy 100 shares of UBS one year from today for $20.37 per share. UBS does not plan to pay dividend for the next year. The following list the closing price and interest rate information in the market today. Today’s closing price of UBS per share $19.52 Annual risk-free interest rate 0.05 (a) Specify an investment strategy to create a tracking portfolio for the forward contract. (b) Show that when the forward contract matures one year from today, the tracking portfolio and forward contract have the same uncertain cash flow. (c) What is the cost to create the tracking portfolio today? (d) What is the value of the forward contract? Why?