Assuming spot price is $$100,$ the theoretical value of a $1-$year futures contract is $$110,$ and the market price of that $1-$year futures contract is $$106,$ how could you capitalize on this arbitrage $(5$ Points$)*()$

Buy the spot and sell the futures contract.

Sell the spot and buy the futures contract.

The arbitrage opportunity does not exist.

Not enough information to know.