The following information applies to Question 3 and Question 4. Dividends paid on a stock and the risk free rates are as follows: Months 2 8 Question 3 9 14 Dividend 0.33 0.22 0.30 Risk-free rate 3.8% 4.2% 4.3% 4.7% The spot price of the stock is $50 and the price of the 9-month forward contract on the stock is $50.50. Determine the theoretical price for the 9-month forward contract in the absence of arbitrage opportunities. Question 4 8 pts Show that there exists an arbitrage opportunity by constructing an appropriate portfolio, and determine the profit per forward contract. Carefully account for all cash flows