The current agreement rate for a 3 against 6 FRA is 4.5% p.a. Based on your analysis of the interest rate markets, you think that the 3-month LIBOR rate in 3 months' time is going to be 6.25%. If you want to make profit by trading FRAs, what would you do? Assuming the notional value is $3 million, and each month has exactly 30 days, how much profit can you make? Select one: a. Since you expect the actual interest rate to be higher than the agreement rate, you should buy a 3 against 9 FRA. The expected profit is $14,778.33 b. Since you expect the actual interest rate to be higher than the agreement rate, you should sell a 3 against 9 FRA. The expected profit is $14,778.33 c. Since you expect the actual interest rate to be higher than the agreement rate, you should buy a 3 against 9 FRA. The expected profit is $12,727.27 d. None of the options e. Since you expect the actual interest rate to be higher than the agreement rate, you should sell a 3 against 9 FRA. The expected profit is $12,727.27