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34. Suppose the S&P 500 index portfolio pays a dividend yield of 2% annually. The index currently is 800, The T-bill rate is 3%, and

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34. Suppose the S&P 500 index portfolio pays a dividend yield of 2% annually. The index currently is 800, The T-bill rate is 3%, and the S&P futures price for delivery in one year is$833. Construct an arbitrage strategy to exploit th equal the mispricing in the futures market. (6 points) e mispricing and show that your profits one year will 10

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