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:
SAT
A standardized test widely used for college admissions in the United States, assessing reading, writing, and mathematics skills.
ACT
A standardized test used for college admissions in the United States, assessing English, mathematics, reading, and science reasoning.
Educational Inequality
The unequal distribution of academic resources and opportunities among students based on various socio-economic, ethnic, or other characteristics.
Race
A classification of humans based on physical and genetic characteristics, often associated with culture and social identity.
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