1 home builder estimates he will need approximately 1.5 million board feet of various lengths of lumber. He anticipates that the price of lumber will increase in the future. He places a hedge using 10 contracts when the cash price of lumber is170.70 MBF and futures are 174.20 The hedge is lifted and the builder buys his lumber at 176.30 and sells his contracts at 180.80.Considering the cash and futures, what was the effective price paid by the builder?