2. XYZ pays no dividend. In the spot market, a share of XYZ is selling for $1,650. In the derivatives market, a forward contract is offered for delivery in 3-month at a price of $1,670. In the bond market, the risk free yield curve is flat at 3% with continuous compounding. Write down the trades a trading program will execute in order to profit from the arbitrage opportunity, and report the present value of the profit