PLEASE ANSWER THIS QUESTION

Coth of these options will expire 91 days from now, and the annualized yield for the 91-day Treasury bil is 5.0\%. (Assume face value is 5100 ) a. How to construct a synthetic Treasury bill position? The transactions needed to construct the synthetic T-Biil would be to the cail. 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 yieids for the actual and synthetic T-bill positions. Show the net, riskiess cash fiaw you couid generate assuming a transaction irvolving 22 actual T-bills and 100 syathetic T-bills. Do not round intermediate calculations. Round your answer to the nearest cent. The strategy would be to 22 actual T-blils and to 100 synthetic T-bills. 5 d. What is the net cash flow of this arbitrage strategy at the option expiration date, assuming that 5tock XLT trades at 525 ot expiration three menths from now? Do not. round intermediate calculations. Round your answer to the nearest cent. If your answer is zero, enter 0