Problem 15-15 The yield to maturity (YTM) on 1-year zero-coupon bonds is 4% and the YTM on 2-year zeros is 6%. The yield to maturity on 2-year- maturity coupon bonds with coupon rates of 10% (paid annually) is 4.9%. a. What arbitrage opportunity is available for an investment banking firm? The arbitrage strategy is to buy zeros with face values of $ 100 and $ 1,100 two years. , and respective maturities of one year and b. What is the profit on the activity? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Profit $ 91.81 each bond