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Bank of Florida NA. purchased a 10% interest rate cap, with face value of 5 millions for 1.45% of face value. If at expiration date

Bank of Florida NA. purchased a 10% interest rate cap, with face value of 5 millions for 1.45% of face value. If at expiration date interest rate are 11.5%. What is the profit/(loss) of Bank of Florida NA.?

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