shia Hershey, a newly hired bond trader, is eager to exploit what she perceives to be an inefficiency in futures market prices. Specifically, she observes the following ormation concerning prices in the spot market for bonds and for the bond futures contract maturing three months from now: a. Describe the arbitrage transaction that Arshia should undertake to take advantage of these market conditions. I. Arshia should sell the asset, sell the futures contract, and lend received cash at a short-term rate. On the expiration date, Arshia should buy the asset, deli the asset against the futures, and receive the funds lent with interest. II. Arshia should borrow funds at a short-term rate, buy the asset, and sell the futures contract. On the expiration date, Arshia should deliver the asset agains the futures, and repay the loan with interest. III. Arshia should sell the asset, buy the futures contract, and lend remained funds at a short-term rate. On the expiration date, Arshia should get the asset against the futures, and receive the funds lent with interest