Suppose it is currently December and you anticipate a three$-$month borrowing need for $$100,000,000$ beginning in June. Suppose also that you can borrow at Libor, and wish to hedge the risk of interest$-$rate changes between now and June using euro$-$dollar futures. Suppose that the euro$-$dollar price of the June contract is currently $$91\mathrm{.}5.$ Assuming that the $3-$month borrowing horizon has $90$

$$1,144,755\mathrm{.}87$

$$1,128,675\mathrm{.}50$