Question 1 (1 point) Saved Suppose that a trader on March 5, 2010, bought a three-year floor on the six-month LIBOR with a floor rate of 5.7% and a principal of $200 million. Swap Date Six-Month LIBOR Rate 5 Mar 2010 4.70% 5 Sep 2010 5.30% 5 Mar 2011 5.80% 5 Sep 2011 6.00% 5 Mar 2012 6.10% 5 Sep 2012 6.40% 5 Mar 2013 6.90% What would be his payoff on March 5, 2011? He would have a payoff of zero. He would have a payoff of $0.1 million. He would have a payoff of $0.2 million. He would have a payoff of $0.4 million