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Consider a 6-month forward contract on a stock whose current price is $40. The stock will not pay any dividend, and the risk-free interest rate

Consider a 6-month forward contract on a stock whose current price is $40. The stock will not pay any dividend, and the risk-free interest rate is 4% per annum. The forward price of the stock is $43. Is there an arbitrage? If so, show the arbitrage strategy and resulting cash flows.

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