Suppose you observe the following option info and are told that there is no arbitrage between Options 1 and 3: Suppose you also know that the stock pays a semi-annual dividend of $1.3 per share and the last one was paid five months ago. The current stock price is $50 and its volatility is estimated to be 38%. Please determine whether there is any arbitrage between Options 2 and 4 . If yes, please come up with a trading strategy and calculate the arbitrage profit. (Hint: you need to use Excel Solver for this question.)