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A European call option and put option on a stock both have a strike price of $20 and an expiration date in three months. Both

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A European call option and put option on a stock both have a strike price of $20 and an expiration date in three months. Both sell for $3. The risk-free interest rate is 10% per annum, the current stock price is $19, and a $1 dividend is expected in one month. Identify the arbitrage opportunity open to a trader and calculate the future value of the arbitrage profit in three months

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