Explain what an arbitrage Is . Assuming the principle of In Arbitrage , FIVE All Argument to show that the futures price !' For delivery at time I of a unit of a shortable financial asset A must be { = I'd So where So is the spot price today for a unit of A. Extend this argument to the case where , over the interval \\O . I, the asset provides cash income whose present value ( at 1 = is 1. Suppose that the asset is not shortable . Why does the same result* hold in most Instances