A corporation finalizes its capital expenditure

program on Nov $15,2001$ and is scheduled to raise

$$100$ million on March $20,2002,$ but doesn$$t plan to

spend the money until June $18,2002.$

$$ no hedge, the rate over the $90$ days subsequent to

March $20,2002$ varies. If the prevailing $90-$day rate

on March $20,2002$ is $2\mathrm{.}75\%$