The yield to maturity (YTM) on 1-year zero-coupon bonds is 8% and the YT yield to maturity on 2-year-maturity coupon bonds with coupon rates of 11% (paid annually) is 8.5%. M on 2-year zeros is 9%. The a. What arbitrage opportunity is available for an investment banking firm? (Omit the "S" sign in your response.) The arbitrage strategy is to buy zeros with face values of $ respective maturities of one year and two years. and $ and b. What is the profit on the activity? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$ sign in your response.) Profit each bond References eBook & Resources