Forward prices for April and June forward contracts for platinum are $400 per ounce and $410 per ounce, respectively. The interest rate is 1 percent for the AprilJune period. There is a 1 percent transaction cost whenever you trade (buy or short sell) the spot in June, but the broker is waiving any transaction costs for trading forward contracts and brokerage costs for trading the spot in April. Can you generate arbitrage profits? Explain your answer. (Assume that the spot price of platinum in June lies between $400 and $500 per ounce.)