On June 1st, the price quote of a Eurodollar futures with 2 months to maturity is 96. You will have $5,000,000 available on August 1st and plan to invest it for 3 months in a Eurodollar account in Hong Kong. Ignore reinvestments of cash flows from daily settlement in this question. (a). How many positions in the Eurodollar futures do you enter on June 1st to eliminate all interest rate risk for your investment of $5,000,000 on August 1st? (b). Suppose on August 1st the 3-month Eurodollar rate turns out to be 4.75% (quarterly compounded). What is your payoff from your futures position on August 1st? What is the annualized, quarterly compounded rate of return you earn from your investment of $5,000,000 and your payoff from the futures position between August 1st and November 1st? (c). Suppose on August 1st the 3-month Eurodollar rate turns out to be 3.6% (quarterly compounded). What is your payoff from your futures position on August 1st? What is the annualized, quarterly compounded rate of return you earn from your investment of $5,000,000 and your payoff from the futures position between August 1st and November 1st?