A USD denominated, floating rate bond, maturing on March 1, 2025, pays quarterly coupons equal to Libor+250 basis points. The notes next coupon is due on March 1 2023. A credit analysis of the issuing companys debt indicates that it ought to be paying Libor plus 50 basis points. Compute the value (to 2 decimal points, per $100 of face value) of the credit spread annuity, at the next coupon date, if an annuity discount rate of 1.0%p.a. is appropriate.