Given the following information:

Stock price is RM$50.$

The annual risk free interest rate is a constant of $8\%$ and compounded

continuously.

The price of a $6-$month European call option is RM$48$ with a strike

price of RM$5.$

The price of a $6-$month European put option is RM$48$ with a strike

price of RM$3.$

The stock pays no dividends.

There is an arbitrage opportunity which is buying or selling one share of

stock and buying or selling puts and callls. Determine the $6-$month profit

from this strategy. $(15$ Marks$)$