Simon Templar manages a hedge fund that specializes in exploiting violations of the put-call parity relationship. Right now, Simon is looking at the 6-month European call and put options written on the stock of Schwarzkopf Industries Ltd. Schwarzkopf is trading at $72 currently, the 6-month call price is $13 and the 6-month put price is $9. Both options have an exercise price of $74. The riskfree interest rate is 6%. Schwarzkopf is not expected to pay a dividend during the 6-month period. If Simon were to devise an arbitrage strategy, what would be the riskless cash flow that is generated at the inception of the arbitrage position? Round your answer to two decimal points