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Today is 1st March. The current risk-free interest rate is 4% per year. The April futures price for silver per troy ounce is $45.50 and

Today is 1st March. The current risk-free interest rate is 4% per year. The April futures price for silver per troy ounce is $45.50 and the October futures price is $46.0. A dividend of $0.2 per share is expected to deliver in October. 


Briefly describe the transactions necessary to take advantage of this specific arbitrage opportunity and calculate the arbitrage profit.

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