It is 1^st April today, and you as an investment analyst in the GFC Bank been approached by a corporate client who wants to invest $2 billion from 1^st July to 1^st October. The prevailing 3-month fixed investment rate today is 6.00% p.a. while the floating Libor rate on 1^st July is uncertain at the moment. There are 92 days between 1^st July and 1^st October, and the actual / 360 convention is used for FRA pricing. If the floating Libor rate turns out to be 6.25% p.a. on 1^st July, you are required to evaluate and identify the highest net interest revenue for this 3-month investment based on the 3 following interest rate hedge instruments:

1. 3 x 6 FRA contracts (10 marks)
2. Eurodollar Futures contracts (10 marks)
3. Bank Accepted Bills Futures contracts (15 marks)