Suppose the county eventually hedged the portfolio in December 1994 using the exact futures contract and amount you have solved in question (4). But it turned out that the interest rate fell from 7.8% to 5.25% after the hedged portfolio was formed. How much would the gain/loss have been for this futures position? Analyze the gain/loss under two scenarios: (1) no basis risk; (2) basis risk adjustment is 0.98.