Consider a European call option and a European put option that have the same underlying stock, the same strike price K = 50, and the same expiration date 6 months from now. Let C denote the Call premium, and P denote the Put premium. The current stock price is $55. a) Suppose the annualized risk-free rate r = 2%, what is the difference between the call premium and the put premium implied by no-arbitrage? b) Suppose the annualized risk-free borrowing rate rb = 4%, and the annualized risk-free lending rate rl = 2%. Find the maximum and minimum difference between the call premium and the put premium, i.e., C P such that there is no arbitrage opportunities.