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In six months, a treasurer will issue commercial paper with a face value of $10 million and a maturity of 6 months. If the commercial

In six months, a treasurer will issue commercial paper with a face value of $10 million and a maturity of 6 months. If the commercial paper were issued right away, it would have a market value of $9,417,645. The treasurer should hedge its interest rate risk by:

a. Selling 19.1221 Eurodollar futures contracts

b. Selling 9.5611 Eurodollar futures contracts

c. Buying 9.5611 Eurodollar futures contracts

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