Use the following information to answer the question(s)below.
An exchange traded fund (ETF)is a security that represents a portfolio of individual stocks.Consider an ETF for which each share represents a portfolio of two shares of Apple Inc.(APPL),one share of Google (GOOG),and ten shares of Microsoft (MSFT).Suppose the current stock prices of each individual stock are as shown below: 
-If the ETF is currently trading for $1300,what arbitrage opportunity is available? What trades would you make?
Definitions:
Geological Research
The scientific study of the Earth, including its composition, structure, processes, and history.
Authority
The power or right to give orders, make decisions, and enforce obedience.
Tax Incentives
Financial benefits, such as reductions in taxes, provided by governments to encourage certain economic activities or investments.
High-Tech Manufacturing
A sector of industry that involves the production of goods using advanced technological processes and equipment, often associated with electronics, aerospace, and pharmaceuticals.
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