You discover the following information: ABC share price is $31. A three-month call option on ABC share is $3, and the price of a three-month put on ABC share is $1, both of these two options have the same exercise price of $30. The risk-free rate is 10% per annum. a) Is put-call parity held? Please demonstrate. [5 marks] b) Are you able to make any arbitrage profits from it? Construct an arbitrage strategy to exploit disparities. Please show your cash flows in different time of period. [15 marks]