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4. (20 pts) Suppose the stock S pays dividends continuously at a rate rdiv. Let CA and PA be the prices of American call and put options, each with the same exercise price X and exercise time T. Use No-arbitrage arguments to prove that: CA - PA > S(0)-e-TaivT - X, 1 where S(0) denotes the time zero price of the stock. 4. (20 pts) Suppose the stock S pays dividends continuously at a rate rdiv. Let CA and PA be the prices of American call and put options, each with the same exercise price X and exercise time T. Use No-arbitrage arguments to prove that: CA - PA > S(0)-e-TaivT - X, 1 where S(0) denotes the time zero price of the stock