Suppose that the 18-month and 24-month risk-free rates are 4.75% and 5% with semiannual compounding. What is the value of an FRA according to which the holder pays 7% (semiannually compounded) for a 6-month period beginning in 18 months and receives LIBOR on $10 million? The current forward LIBOR rate for this period is 6% (semiannually compounded). (Round your answer to the second decimal places, e.g. 1234.56)

I have 45,297.53 - is this correct? Please do not use any AI websites as they are not 100% correct.