ABC Corp is considering entering into a futures contract to hedge against potential fluctuations in the price of crude oil, which currently trades at $70 per barrel. The futures market indicates that the price of crude oil is expected to rise to $75 per barrel in three months.

ABC Corp will specifically enter a futures contract that allows them to buy 1,000 barrels of crude oil at the futures price. They want to determine their effective purchase price per barrel using the futures contract. What is the effective purchase price per barrel for ABC Corp if they enter into this futures contract?