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(TCO E & F) A thrift purchases a one year interest rate floor with a floor rate of 4.23% from a large bank. The option

(TCO E & F) A thrift purchases a one year interest rate floor with a floor rate of 4.23% from a large bank. The option has a notional principle of $1 million and costs $2,000. If in one year interest rates are 3% the thrift's net profit, ignoring commissions and taxes was _____ and if in one year interest rates were 2% the thrift's net profit was _____. $0; $7,500 $8,800; -$2,000 $8,800; $0 $29,500; - $2,000 $29,500; $0

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