2. A share of Formila Corp. is currently trading at $38.50, and a 1-year call option on Formila with X = $40 is trading at $3. The risk-free interest rate is 4.5%. a. What should be the price of a 1-year put option on the stock with X = $40? (4 points) b. If the price of a put is $2, construct an arbitrage strategy. Explain how to construct the strategy and why it is an arbitrage. (4 points) c. If the price of a put is $4, construct an arbitrage strategy. Explain how to construct the strategy and why it is an arbitrage. (4 points)