3) 20 points Consider a non-dividend-paying stock with current price $62 per share. The price of an American put option with strike price $60 and expiration date in 6 months is $10. The risk-free interest rate is 8% per year (with continuous compounding). a) Obtain upper and lower bounds for the price of an American call option on the same stock with the same strike price and maturity. b) Find an arbitrage opportunity if the price of the American call option were greater than the calculated upper bound. To receive full credit, explain what you would do at time t = 0 and why the strategy that you propose is indeed an arbitrage oportunity