The index investor's year

The crude curve is in a constant 2%-per-month contango in price terms ($F_{\text{next}}/F_{\text{front}} = 1.02$), spot ends the year where it started, and T-bills yield 5.5%. A fully collateralised index rolls monthly. (a) Compute the excess and total returns over the year, in log and simple terms. (b) Use (10.11) to back out $u - y$. Interpret. (c) A physical holder with free storage would have earned what? Reconcile with (b).