Q3) A company buys a 5 11 (begins after five months, ends after eleven months), 100-million-Eurodollar forward rate agreement (FRA) that has an FRA rate of 4 percent per year. If the 6-month bbalibor [or ICE LIBOR] rate announced after five months is 5.5 percent per year, then (assuming 182 days in the six-month period and 360 days in the year), the buyer will receive on the settlement date (after five months): (5 points)

$491,878.60

$737,817.90

$758,333.33

$983,757.20

None of these answers are correct.