need ASAP! please solve showing formulas/explanation. please show (b) arbitrating trading strategy. will upvote once answered thank you in advance MVP!

(2) The spot price of the S\&P 500 index is currently at 1200 per share. The 3-month futures price is the same as the spot price. The simple interest rate is 2% for 3 months and the simple dividend yield is 1% for 3 months. (a) Calculate the arbitrage-free futures price. (b) Provide an arbitrage trading strategy