On 1st September 2008, Copula, a mutual fund, approaches a trading desk to sell $100
million face value of a 90-day T-bill currently trading at a discount rate of 5.1%. To obtain
the funds needed, the trading desk repos out the T-bill to MSFT who has an enormous amount
of cash to lend in the repo market. Specificly, the trading desk enters into a 14-day repo with a
repo rate of 4.41% p.a. Note that in the repo markets, we use the convention of 360 calendar days
in a year.

If on 15th September, the 76-day T-bill trades at a discount rate of 3%:

How much (in millions) will the trading desk have to pay to buy back the T-bill from MSFT?

How much (in millions) will the trading desk receive from Alupoc?

What is the trading desk's profit (in millions) in this case?