The price of a non-dividend paying stock is $52 and the price of an eight-month European call option on the stock with a strike price of $48 is $2. The risk-free interest rate is 8% per annum. The price of an eight-month European put option is $3. Both put and call have the same strike price. Is there an arbitrage opportunity? If yes, what are your actions now and in eight months? What is the net profit in eight months?