Consider a European call option and a European put option that have the same underlying stock, the same strike price K, and the same expiration date T. Let 0 denote the Call premium, P denote the Put premium, and 3 denote the current stock price. Suppose the riskfree borrowing rate n, is higher than the riskfree lending rate it}, i.e., n, > 1",. c. Use the put option, the stock, and either risk-free borrowing or lending to replicate the payoff of longing the call option. I). Use the put option, the stock, and either risk-free borrowing or lending to replicate the payoff of shorting the call option. 0. Express the arbitrage restriction for the Call premium 0 with P, S, K, T, 1'5, and r3, i.e., nd the upper bound and the lower bound for C such that no arbitrage opportunity exists