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A one-year floating-rate note pays 6-month Libor plus 112 bps. The floater is priced at 98.83 per 100 of par value. The current 6-month Libor

A one-year floating-rate note pays 6-month Libor plus 112 bps. The floater is priced at 98.83 per 100 of par value. The current 6-month Libor is 1.88%. Assume a 30/360 day-count convention and evenly spaced periods. What is the annual discount margin for the floater in basis points? THE ANSWER MUST BE 232.7. Please show me the work on excel. Thank you!

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