to the high$-$risk biotech company is $12\%.$ However, the firm's financial manager is concerned that interest rates will climb even higher in coming months. The following data are available:

places.

$\%$

The firm must $(,$ contract$($s$)$ to cover the planned $$10,000,000$ June bond issue.

What is the total value of the hedge position? Use the rounded value of the number of contracts. Round your answer to the nearest cent.

$

market rates? Do not round intermediate calculations. Round your answer to the nearest cent.

$

How much less is this than the original target for proceeds? Do not round intermediate calculations. Round your answer to the nearest cent. Enter your answer as a positive value.

$

Round vour ancwer to the nearest cent.

$

What is the gain on the hedge? Use the rounded value of the number of contracts from part a$.$ Do not round other intermediate calculations. Round your answer to the nearest cent.

$

nearest cent. Enter your answer as a positive value.

On net, the firm

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