The head phones are legal, because the transmitter runs less than 100
milowatts. A low power FM station on that frequency isn't very
possible for a couple of big reasons.
1. It is illegal, and you are in federal government reserved
frequencies. Can you say federal crime?
2. Since it is illegal, nobody makes or will sell you a transmitter
that sends out high fidelity FM audio in that frequency band.
Didn't you learn what you studied? or did you just memorize the
answers with out understanding?