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The quoted price for a September T- bond futures contract has a quoted price of 110'6. If annual interest rates go down by 1.5 percentage

The quoted price for a September T- bond futures contract has a quoted price of 110'6. If annual interest rates go down by 1.5 percentage point, what is the gain or loss on the futures contract?

A. -$11,146
B. -$18,404
C. $11,146
D. $18,404
E. None of the above

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