Question 14. Fed Funds Futures Arbitrage {5 marks} On August 1. the onemonth LIBDR rate is 2.1] percent and the twomonth LIBDR rate is 2.5 percent. The 30day fed funds futures is quoted at 96.?5. Assuming no basis risk between fed funds and one-month LIBDR at the start of the deliveryr month; identify whether an arbitrage tripportunityr is available. The contract size ofthe fed funds futures is $5