please solve with excel

nde H5 KORUMALI GORUNUM Dikkatli olun: UMALI GORUNUM DIKKatil olun! Internat kenakil abaya virus Farrouir. Duzenlemeniz gerekmiyors dana quan Qur Duzenlemeyi etkinlegt fx B DE F G H K L M N No P Q R Consider a two period realistic "perfect capital market" (namely there is uncertainty regarding next period's macro situation). Thus all the assumptions listed on p87 of Ch5 hold. We are given two securities whose time=2 payoffs and time=1 prices are as follows: =1 S T U V 1 2 3 Security Security Y Can such prices persist without triggering arbitrage? If your answer is no, show how profitable arbitrage can occur? (20 points) 4 100 TL 200 TL 80 TL 160 TL 90 TL 190 TL Time 2 Good 5 payoff Time 2 Bad 6 payoff Time 1 7 Price 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Q1 Q2 Q3 Q4 HITI El IN