) A six-month call option on a non-dividend paying stock has a strike price of $35. a) Calculate the lower bound for this call option when the current stock price is $43 and the risk-free rate is 7% per annum. b) If the market price of the call option is $9.65, is there an arbitrage opportunity? c) If yes, define the arbitrage strategy. (please dont use excel i dont understand anything)