Betty and Bob have an account with $0 in it. Interest rates are 12% per annum continuously compounded and they may borrow or loan at this rate. XYZ stock is $60 per share and they may buy or sell at this price. XYZ has a $0.50 (50 cent) dividend in 3, 6, and 9 months from now, which is allowed to earn interest once it has been paid. A 10-month forward contract with a forward price of $65.5 is available and they may go long or short it. Betty and Bob wish to make money without risk. Advise them; that is tell them how much to borrow or loan, buy or sell, go long or short to achieve a risk-less profit after 10 months. How much profit do they make? Be sure to algebraically explain all of your work.

(I need a step-by-step explanation of the formulas used. Thanks)