(b) Today is 1st November. Suppose a company has RM 3,000,000 invested in a floating interest-bearing security with six-month rollover. The floating interest income is based on KLIBOR. The company worries that come to the next rollover at the end of December, the interest rate would have decreased. Today, KLIBOR is 8% and the KLIBOR futures is trading at 92.00. Required: Formulate a KLIBOR interest rate futures hedging strategy for the company [Note: explain whether the company should take a long or short position.]. Then, calculate the hedge efficiency ratio and the effective yield with hedging if at the end of December: (i) KLIBOR turns out to be 5% and KLIBOR futures trades at 94.50. (ii) KLIBOR turns out to be 12% and KLIBOR futures trades at 89.20