b) In trying to protect the sale of frozen concentrated orange juice, you believe you have identified a mispricing in one of the frozen concentrated orange juice futures contracts, and think you could exploit this mispricing to generate further profit for the firm. Specifically, you identify that the March 2023 futures contract, with a price of 202.25 is mispriced in some way. Given the current price of frozen concentrated orange juice is 202.84 today, the risk-free rate is 3.5% p.a. and the cost of storage is 3% p.a.: i. Does an arbitrage opportunity exist? If so, show how you could exploit the arbitrage opportunity (including a table of cash flows). In performing this strategy, you should assume that there are exactly twenty weeks until expiration of the futures contract. How much profit is available per contract? (10 marks) ii. Draw the terminal payoff diagrams for each part of the strategy you created in a. Ensure the diagrams are labelled using the numbers from the question. Finally, show the overall terminal payoff for the portfolio in one diagram. (10 marks)