On January 22 (at time t) you observe the following quotations: Two month (T1) London late Eurodollars 5.62% (continuously compounded), and Five month (June, T2) London late Eurodollars, 5.44% (continuously compounded). On this day, the March Eurodollar futures contract has a settlement quote of 94.74. Based on these quotes, determine whether the March futures contract is correctly priced. Be sure to address the following: (a) What is the continuously compounded rate on the Eurodollar futures contract? (b) What is the implied forward rate? (c) Is the futures contract under- or over-priced? Why? 25 points