A Treasury Bond futures contract is selling in the market for $97,125 and has a duration of 6 years. Its underlying Treasury Bond is selling in the cash market for $99,735 and has a duration of 6.3 years. What is the basis for this futures contract?

a.) $400

b.) 0.25 years

c.) $2,610

d.) $28,156.25

e.) None of the options are correct