7. (13 points] Consider the following bid/ask prices for 1- & 2-yr zero-coupon-bonds, 1- & 2-yr forwards, and a 2-yr swap rate, the last three all on the same underlying asset (S). instrument bid ask 1-yr ZCB 982 985 2-yr ZCB 953 955 1-yr FWD 48.5 48.7 2-yr FWD 53.6 53.9 2-yr swap 50.2 50.5 Create an arbitrage strategy and calculate its cashflows. 7. (13 points] Consider the following bid/ask prices for 1- & 2-yr zero-coupon-bonds, 1- & 2-yr forwards, and a 2-yr swap rate, the last three all on the same underlying asset (S). instrument bid ask 1-yr ZCB 982 985 2-yr ZCB 953 955 1-yr FWD 48.5 48.7 2-yr FWD 53.6 53.9 2-yr swap 50.2 50.5 Create an arbitrage strategy and calculate its cashflows