Question: Rework the last problem assuming that the index was at 388.14 at expiration. Determine the profit from the arbitrage trade and express it in terms

Rework the last problem assuming that the index was at 388.14 at expiration. Determine the profit from the arbitrage trade and express it in terms of the profit from the spot and futures sides of the transaction. How does your answer relate to that in problem 15?

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