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These are the only options provided by the professor. The quoted price for a September T- bond futures contract has a quoted price of 110'6.

These are the only options provided by the professor.

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? Round to the nearest dollar.

($31,445)

-$13,509

$22,518

$38,357

None of the above

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