2) Assume a company issued a $100 million floating rate note of 5 years maturity that pays coupon semiannually based on 6-month LIBOR + 150 basis points. The 6-month LIBOR rates on select coupon payment dates are given below. Calculate the expected amount of coupon payments on those dates starting on 12/31/17. Date LIBOR % 6/30/17 2 12/31/17 2.5 6/30/18 3 12/31/18 1.8 6/30/19 2.4 12/31/19 3.6 Solution