27. A banker commits to a two-year commercial loan and expects to fulfill the agreement in 30 days. The interest rate will be determined at that time. Currently, rates are 7.5% for such loans. To hedge against rates falling, the banker buys a 30-day

interest-rate floor with a floor rate of 7.5% on a notional amount of . After 30 days, actual rates fall to 7.2%. What is the expected interest income from the loan each year? How much did the option pay?