单选题 Treasury spot rates are as follows: 6 months = 3%, 1 year = 4%, 1.5 years = 5%. A 1.5-year, 3% Treasury note is trading at $943.4. The arbitrage trade and arbitrage profit are:

A、 buy the bond, sell the pieces, earn $28.3 per bond.
B、 buy the bond, sell the pieces, earn $31.2 per bond.
C、 sell the bond, buy the pieces, earn $28.3 per bond.

【正确答案】 A

【答案解析】[解析] 国库券的无套利价格(基于即期利率的现值)