A floating rate note pays quarterly coupons on the 15th of March, June, September, and December of each year based on three-month Market Reference Rate (MRR) + 50 bps. Today is December 15th and the evolution of the three-month MRR on each payment date is: Date Three-Month MRR March 15 2.50% June 15 2.75% September 15 3.00% December 15 3.25% The FRN has a par value of $1,000. The coupon payment due today is closest to: Group of answer choices $17.25. $8.75. $18.75