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5 JK Capital Markets purchased a 4% interest rate floor with a face value of 8 millions for 2% of face value. If at expiration

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5 JK Capital Markets purchased a 4% interest rate floor with a face value of 8 millions for 2% of face value. If at expiration date interest rates are 3.05%, How much is the profit/(loss) of JK Capital Markets? PRESENT YOUR ANSWER ROUNDED TO ZERO DECIMAL PLACES. DON'T USE COMMA SEPARATORS IF A LOSS USE THE MINUS SIGN EX-20 of Answer: page Next page 29 at A 80 990 DI $ 3 4. 5 6 & 7 8 9 0 R T Y U

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