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5.(a) FFF stock is selling for 205.26. The March 2021(t = 4 months) call option with K=205 is priced at $18.52 and the put option with K=205 is priced at $22.90. If the risk free rate is 1%, describe in detail the arbitrage strategy to profit from this pricing using put-call parity. Please show the values at time 0 and at time t to prove this is arbitrage 6 points) (b) If you were to find the implied volatility using the Black-Scholes model for the two options in part (a), will the estimates be the same? Explain 6 points) 5.(a) FFF stock is selling for 205.26. The March 2021(t = 4 months) call option with K=205 is priced at $18.52 and the put option with K=205 is priced at $22.90. If the risk free rate is 1%, describe in detail the arbitrage strategy to profit from this pricing using put-call parity. Please show the values at time 0 and at time t to prove this is arbitrage 6 points) (b) If you were to find the implied volatility using the Black-Scholes model for the two options in part (a), will the estimates be the same? Explain 6 points)