The yield to maturity on default-free one-year zero-coupon bonds is 5%. The yield to maturity on default-free two-year zero-coupon bonds is 6%. The yield to maturity on a default-free three-year coupon bond is 6.5%. The coupon bond makes coupon payments at 10% per year. Is there an arbitrage opportunity? If so, illustrate with an example how you would take advantage of this opportunity. If not, why not?