The treasurer of Company A expects to borrow $$15,000,000,90$ days from now. The treasurer expects short$-$term interest rates to rise during the next $90$ days. In order to hedge against this risk, the treasurer decides to use a FRA that expires in $90$ days and is based on $90-$day LIBOR. The FRA is quoted at $4\%.$ At expiration, LIBOR is $4\mathrm{.}5\%.$ Assume that the notational principal on the contract is $$15,000,000.$

Calculate the payoff of entering the FRA. $($Hint: you need to firstly figure out whether Company A is interested in Long or Short$)$