12) A CDS has a spread of 30 basis points and a notional principal of $200 million. If the underlying bond defaults after 2 years 1 months and the Cheapest to Deliver Bond is trading at 30/par immediately after default, what is the amount paid by the seller to the buyer on default? a) 139,950,000 b) 144,980,000 c) 100,000,000 d) 60,050,000