You happen to be checking the newspaper and notice an arbitrage opportunity. The current stock price of Intrawest is $18 per share and the one-year risk-free interest rate is 3%. A one-year put on Intrawest with a strike price of $17 sells for $2.65, while the identical call sells for $4.63. Intrawest doesn't pay any dividends. Explain what you must do to exploit this arbitrage opportunity. (Choose the best answer below.)

A. The strategy would be to sell the call option, buy the put and the stock, and borrow $17. The net benefit is $0.48.

B. The strategy would be to sell the call option, buy the put and the stock, and borrow $16.50. The net benefit is $0.48.

C. The strategy would be to sell the call option, buy the put and the stock, and borrow $16.50. The net benefit is $0.98.

D. The strategy would be to buy the call option, sell the put and the stock, and borrow $16.50. The net benefit is $0.48