Suppose today you observe the following prices of treasury securities:

SecurityCouponPrice

6-month T-bill097.8974

1-year T-bill 095.3610

1.5-year T-note6%per year, payable semi-annually101.3553

Consider an FRA that was entered into some time ago, and matures today. Under the terms of this FRA, your company has agreed to receive a rate of 5.25% p.a. (continuous compounding) on a principal of $1 million over an 18-month period (i.e., the 18-month period starts at the maturity of the FRA; i.e., today). Based on the above information on interest rates, how much is the cash-settlement amount on this FRA? Will your company be getting or paying this amount?