F. A European call that will expire in one year is currently trading for $3. Assume the riskfree rate [based on continuous compounding} is 5%, the underlying stock price is $60 and the strike price is $55. a. Is there an arbitrage opportunity? b. Describe exactly what a trader should do to take advantage of the arbitrage opportunity assuming it exists. c. Determine the present value of the prot that the trader can earn assuming you identifyr an arbitrage opportunity