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4. A forward contract matures in 8 months, underlying asset is coupon-bearing bond, the spot price of the bond is $1010, coupon payment of $55

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4. A forward contract matures in 8 months, underlying asset is coupon-bearing bond, the spot price of the bond is $1010, coupon payment of $55 in 3 months. The annual interest rate is 3% with continuous compounding. Assuming forward price is $970, describe your arbitrage opportunity. (Arbitrage strategy should include all actions/positions to be taken today and all actions/positions to be taken or closed on maturity). Please keep 2 decimal places for your answer in this

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