please show me how to calculate the amount to borrow, buy and short for the arbitrage opportunity.

thank you

QUESTION 4 Assume: - current stock price =$20 - stock price changes by +110% each 3 months with equal probability - European call option, strike $21, maturity 6mths - constant riskfree rate of 12% p.a. - 2 time periods (of equal length) to maturity - the current price of call option is $1.50 What hedging strategy should be used to lock in an arbitrage profit if the stock price falls in both periods? QUESTION 4 Assume: - current stock price =$20 - stock price changes by +110% each 3 months with equal probability - European call option, strike $21, maturity 6mths - constant riskfree rate of 12% p.a. - 2 time periods (of equal length) to maturity - the current price of call option is $1.50 What hedging strategy should be used to lock in an arbitrage profit if the stock price falls in both periods