Price of A stock:$40/share. A one-year forward contract on the stock:$41.38/share. No dividends payment.

What is the implied repo rate? Suppose a hedge fund can borrow at 2.5% using a repurchase agreement. Is this an arbitrage? If yes, what is the arbitrage profit per share of stock? Construct a cash flow table that shows the trades the hedge fund should do to earn the arbitrage profit.