Assume that the ABC corporation has issued $1 million in face value of a floating rate note. It matures on October 15, 2031 and is currently priced at 100% of face value. It pays coupons every 3 months on January 15, April 15, July 15, and October 15. The coupon formula is 3 Month LIBOR + 1.40%. The current settlement date for a trade is April 11, 2022. The last coupon payment date and formula reset date was January 15, 2022. On that date 3 Month LIBOR was set at 0.30%. That means there are 4 days left to the next coupon payment date/coupon reset date, and that 86 days have passed since the last payment date on January 15, 2021.

a. What is the total size of the coupon payment that the ABC corporation must pay on April 15, 2021?

b. What is the accrued interest on the settlement date of April 11, 2021?