Suppose the S&P 500 index is at 1160.50. The dividend yield on the index is 1.80%. If T-bills yield 3.22%, what is the fair value of an S&P futures contract that calls for delivery in 90 days? Suppose that the futures contract in question actually sells for 1170.60. How would you take advantage of the price discrepancy? Work out the payoff worksheet under the scenarios of index at 1100,1200, and 1300. Will it be worth your time doing the arbitrage? (Use 365 days a year)