Assume the T-bill maturity and futures delivery are on the same day. Ignore transactions costs. Treasury Bill Maturity Mar DTM Bid 1.18 Asked 1.17 Index Futures S&P 500 Index (CME) Open 2,905.00 High 2,911.00 Low 2,901.00 Settle 2.907.70 Mar S&P 500 closed at $2.910.00 on the same day. a) Find the discount factor using the T-bill data. Please use the "Bid yield for the calculation b) Suppose that if you buy one unit of S&P 500 index today, you will be entitled to a 1.5% dividend yield on the delivery day. Consider the following zero-net- investment strategy: buy S&P 500 index spot, borrow at the risk-free rate, and short the S&P 500 futures. Make sure your positions add up to zero at t=0. Show the cash flows from all your positions in the following table, per unit. Cash Flow, t=0 Cash Flow. Maturity Position Buy S&P 500 Borrow Short Futures TOTAL CASH FLOW TO c) Considering that each S&P 500 futures contract is for 250 units of the index, what is your total arbitrage profit per 1000 contracts