3. Let St be the current price of a stock that pays no dividends. Let rBID be the interest rate at which one can invest/lend money, and rOFF be the interest rate at which one can borrow money, rBIDrOFF. Both rates are continuously compounded. Using no-arbitrage arguments, find upper and lower bounds for the forward price of the stock for a forward contract with maturity T>t. You need to detail the transactions you make to construct the portfolio and how the portfolio value changes