Suppose the S\&R index is 800 , the continuously compounded risk-free rate is 5%, and the dividend yield is . 0\%. A 1-year 815-strike European call costs \$75 and a 1-year 815 -strike European put costs \$45. Consider the strategy of buying the stock, selling the 815-strike call, and buying the 815-strike put. What is the rate of return on this position held until the expiration of the options? 6.21% 3.25% 5.84% 4.89% Question 4 (7 points) Suppose the S\&R index is 800 , the continuously compounded risk-free rate is 5%, and the dividend yield is 0%. A 1-year 815 -strike European call costs $75 and a 1-year 815 -strike European put costs $45. Consider the strategy of buying the stock, selling the 815-strike call, and buying the 815 -strike put. What is the implied arbitrage opportunity? borrow money at 5% and short the aggregate position short the aggregate position and invest the proceeds at risk-free rate of 5% borrow money at 5% and take the aggregate position there is no arbitrage opportunity