1onal bank en ty at least one mean (15 points) 3. A "three-against-nine" FRA has an agreement rate of 6.25 percent. You believe six-month LIBOR in three months will be 5.325 percent. You decide to take a speculative position in a FRA with a $1.400.000 notional value. There are 183 days in the FRA period. You should define if you should buy or sell the FRA and what your expected profit will be if you forecast is correct about the six-month LIBOR rate. (25 points)