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A European call option and put option on a stock both have a strike price of...

A European call option and put option on a stock both have a strike price of $25 and an expiration date in six months. Both sell for $3. The risk-free interest rate is 10% per annum, the current stock price is $23, and a $1 per share dividend is expected in 2 months. Identify the arbitrage opportunity open to a trader.

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