Calculating Theoretical Futures Price for Gold

Olivia is a trader assessing a futures contract on gold that is currently priced at $1,800 per ounce. The contract is set to mature in 6 months, and Olivia is trying to determine the fair futures price based on the cost of carry model, which takes into account the spot price, the risk-free rate, and storage costs.

The risk-free interest rate is 2% annually and the storage cost for holding gold is estimated at 1% of the spot price over the same 6-month period. Olivia needs to determine whether the current futures price reflects all these considerations accurately and what the theoretical fair futures price for this contract should be.

What is the theoretical fair futures price for the gold futures contract?