$2.$ Assume perfect markets: no transaction costs and no constraints. The one$-$month risk$-$free interest rate will remain constant. Two futures contracts are traded on a financial asset without payouts: a six$-$month and a three$-$month b$.$ Suppose a three$-$month futures contract trades at price Ft$,$t$+3=119\mathrm{.}5.$ Does this imply an arbitrage opportunity? How would you take advantage of this opportunity?