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An Exchange Traded Fund (ETF) is a security that represents a portfolio of individual stocks. Consider an ETF for which each share represents a portfolio

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An Exchange Traded Fund (ETF) is a security that represents a portfolio of individual stocks. Consider an ETF for which each share represents a portfolio of 1 share of Hewlett-Packard (HPQ), 1 share of Sears (SHLD), and 4 shares of General Electric (GE). Suppose the current stock prices of each individual stock are as shown here: Stock HPQ SHLD GE Current Market Price $28 $41 $13 a. What is the price per share of the ETF in a normal market? b. If the ETF currently trades for $103, what arbitrage opportunity is availablo? What trades would you make? (lonore any transaction costs.) c. If the EFT currently trades for $133, what arbitrage opportunity is available? What trades would you mako? (Ignore any transaction costs.) a. What is the price per share of the ETF in a normal market? The price per share of the ETF in a normal market is $(Round to the nearest dollar)

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