please answer 13,14

13. The price of LMN common is currently $100 and the per contract prices of the August 90 calls and puts are $1400 and $300 respectively. The relevant annual continuously compounded risk-free rate is 4%. If expiration is three months away, what profitable action could be taken by an efficient market maker in LMN options? a. Conversion b. Reverse Conversion C. None 14.A conversion can be considered to be: a. long stock and short synthetic stock. b. long put and short synthetic put. c. short call and long synthetic call. d. All of the above