The Telex Company plans to issue $20,000,000 of 10-year bonds at par nextJune, with semiannual interest payments.The company's current cost of debt is 12% .However, the firm's financial manager is concerned that interest rates will increase in coming months, and has decided to take a short position in U. S. government t-bond futures.See the settlement data below for t-bond futures.(Note: One standard future contract is $100,000)