4. BHP Billiton, the leading Australian mining company has its shares listed on the Australian Stock Exchange and the London Stock Exchange. A financial advisor suggests that ignoring taxes and franking credits, the dual listing may converge to same share price when converting the LSE-listed BHP pounds sterling share price into Australian dollars. You can find the corresponding historical quotes on https://au. finance . yahoo . com/quote/BHP . AX/history?p=BHP . AX https://au. finance . yahoo . com/quote/BHP . L/history?p=BHP . L https://au. finance. yahoo . com/quote/AUDGBP,3DX/history?p=AUDGBP Note: the London Stock Exchange quotes are in Pence (1/100 of one Pound), the Aus- tralian Stock Exchange quotes are in Dollars. a) Use the closing prices on 16 June to check if there is a price difference. Which of the stocks is currently traded at a premium when you convert them to one currency, AUD? b) Does this constitute a pure arbitrage opportunity? c) (3 marks) Read the paper about the dual listed companies (for undergraduate students it is sufficient to read the introduction, graduate students should read the whole paper) link here Discuss the main points of the paper (in about 100 words)