None of the above-mentioned transactions will bring a positive net cash flow.

Transaction A: If the investor borrows $119.4 at the risk-free rate to purchase the shares now, the loan amount, in 6 months, will grow to:

$`$119.40\left(1 + \frac{0.06}{2}\right)^{0.5 \times 2} = \$122.98`2$$

Since the investor will use the proceeds to enter into a contract to short the share at the forward price of $122.982, the net cash flow of the trade will equal:

\`$122.98`2 - \`$122.98`2 = 0

Transaction B: If the investor short sells the stock at the current price of $119.4, and invests the proceeds at the risk-free rate, then 6 months from now the investor will have:

$`$119.40(1.03)^{0.5 \times 2} = \$122.98`2$$

Since the investor will take a long position to purchase the stock at the forward price of $122.982, the net cash flow of the investor will equal:

\`$122.98`2 - \`$122.98`2 = 0

In both transactions, the net cash flow is zero, meaning no arbitrage profit can be earned. This confirms that the forward price of $122.982 is fairly priced according to the cost-of-carry relationship.