3) A bond promises a risk-free payment of $1000 in one year. The risk-free rate of interest is 2.19%. a) What is the price of the bond? b) If the price of the bond is actually $950, what is the arbitrage strategy? Illustrate all cash flows today and one year from today. c) If the price of the bond is actually $1000, what is the arbitrage strategy? Illustrate all cash flows today and one year from today.