The treasurer of Company A expects to borrow $15,000,000 in 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 4.5%. Assume that the notational principal on the contract is $15,000,00.

HINT- DO NOT USE CHAT GPT, INSTANT THUMS DOWN! PLS ONLY ANSWER IF U KNOW IT!