The following information applies to the next two questions. Suppose the S&P 500 index is at 315.34. T-bills yield 8.97%. The S&P 500 index futures contract that calls for delivery in 106 days currently sells for 322.50. The d vidend yield on the indexis 2.89 % and 6. What is the fair value of this S&P futures contract? a. $309.83 b. $315.34 c. $320.97 d. $322.50 7. How would you take advantage of the price discrepancy? Work out the payoff worksheet under the following three scenarios: when index equals 300, 350, and 400 in the future. How much is your arbitrage profit? a. $7.16; $7.16; $7.16 b. -$7.16; -$7.16;-$7.16 c. $5.63; $5.63; $5.63 d. -$5.63; -$5.63; -$5.63