Assume the following data about Legends Company. It will need a loan of $10,000,000 in 30 days The duration of the loan will be 90 days Legends can borrow at 90 day LIBOR plus 100 basis points Legends establishes a long position in a Forward Rate Agreement (FRA) which commits the company to making payments at 1.5% (90 day rate) and receiving interest payments at 90 day LIBOR If in 30 days the 90 day LIBOR is at 1.0% a. What is the actual interest (dollars) paid on the loan to the bank? b. What is the payoff (gain / loss) on the FRA C. What is the final net effective 90 day interest rate paid by Legends Company