oth of these options will expire 91 days from now, and the annualized yield for the 91-day Treasury bill is 4.0%. (Assume face value is $100. ) a. How to construct a synthetic Treasury bill position? The transactions needed to construct the synthetic T-Bill would be to the stock, the put and b. Calculate the annualized yield for the synthetic Treasury bill in Part a using the market price data provided and a simple interest approach. Do not round intermediate calculations. Round your answer to two decimal places. % c. Describe the arbitrage strategy implied by the difference in yields for the actual and synthetic T-bill positions. Show the net, riskless cash flow you could generate assuming a transaction involving 23 actual T-bills and 100 synthetic T-bills. Do not round intermediate calculations. Round your answer to the nearest cent. The strategy would be to 23 actual T-bills and to 100 synthetic T-bills. $ d. What is the net cash flow of this arbitrage strategy at the option expiration date, assuming that Stock XLT trades at \$25 at expiration three months from now? Do not round intermediate calculations. Round your answer to the nearest cent. If your answer is zero, enter 0. $ oth of these options will expire 91 days from now, and the annualized yield for the 91-day Treasury bill is 4.0%. (Assume face value is $100. ) a. How to construct a synthetic Treasury bill position? The transactions needed to construct the synthetic T-Bill would be to the stock, the put and b. Calculate the annualized yield for the synthetic Treasury bill in Part a using the market price data provided and a simple interest approach. Do not round intermediate calculations. Round your answer to two decimal places. % c. Describe the arbitrage strategy implied by the difference in yields for the actual and synthetic T-bill positions. Show the net, riskless cash flow you could generate assuming a transaction involving 23 actual T-bills and 100 synthetic T-bills. Do not round intermediate calculations. Round your answer to the nearest cent. The strategy would be to 23 actual T-bills and to 100 synthetic T-bills. $ d. What is the net cash flow of this arbitrage strategy at the option expiration date, assuming that Stock XLT trades at \$25 at expiration three months from now? Do not round intermediate calculations. Round your answer to the nearest cent. If your answer is zero, enter 0. $