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European call and put options on the stock CIT are selling for $3.10 and $0.40 respectively. Both options are struck at $45 and have one

European call and put options on the stock CIT are selling for $3.10 and $0.40 respectively. Both options are struck at $45 and have one month to maturity. The current stock price is $46.60 and the annual riskless rate is 5%. Is there an arbitrage opportunity in this market? If so, demonstrate how to exploit it.

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