John sold a 1-year future bond contract and will buy a contract in one year. If interest rates drops in one year, what will John's position be? Multiple Choice O John will profit on the future contract but will borrow at a higher interest rate O John will profit on the future contract but can borrow at lower interest rate John will lose on the future contract but we borrow at a lower interest rate John will lose on the future contract and wil borrow at a higher interest rate