Ok, so I am scratching my head on Problem 3 C. for reading 42 Return on Equity position = 25,000,000 X ((1031-1170.1)/1170.1) = -2,971,968 Return on futures contracts = -86 X 250 X (1031-1170.1) = 2,990,650 Total return on synthetic cash = -2,971,968 + 2,990,650 = 18,682 Return on risk-free asset = 24,927,814 X (0.0275/12X4) = 229,336 Oupsie, doesn’t match. Can you reconcile the numbers and get a solution with matching returns?