The risk-free interest rate is 5% per year and the dividend yield on the SP500 index is 2% per year. This index is currently 1000.00 and the futures price for the contract maturing in 4 months is 1012. Assuming perfect capital markets, what arbitrage, if any, does this create?

		The arbitrage is to short futures and buy shares underlying the index
		The arbitrage is to buy futures and short shares underlying the index
		There is no arbitrage opportunity
		The arbitrage is to short futures and short shares underlying the index