Calculate the payoff at expiration for a call holder on an option on an underlying Eurodollar LIBOR rate for a 180-day time deposit if the annual rate at expiration is 6.50 %. The exercise rate is 6.0 %, the notional principal is $10,000,000, the option it is settled in cash but not at expiration as FRAs but at the end of the period covered by the time deposit.

a		- $0
b	-	$25,000
c-		$27,500
d-		$28,750
e-		$30,000