A bank with total assets of $271 million and equity of $31 million has a leverage adjusted duration gap of +0.21 years. Use the following quotation from the Wall Street Journal to construct an at-the-money futures option hedge of the bank's duration gap position.

TREASURY BILLS (IMM)-$1 million; 91-day ($25.28 ea.)
Strike Price	Calls-Settle	Puts-Settle
96.00	28 basis points	63 basis points
96.25	19 basis points	78 basis points
96.50	12 basis points	96 basis points

If 91-day Treasury bill rates increase from 3.75 percent to 4.75 percent, what will be the profit/loss per contract on the bank's futures option hedge? Show all work and discuss.