Use the following information for questions 12-15: Under the terms of an interest rate swap, a financial institution has agreed to pay 10% per annum and to receive the 3-month LIBOR in return on a notional principal of $50 million with payments exchanged every 3 months. The swap has a remaining life of 14 months. The current rate being swapped for 3- month LIBOR is 11.8% per annum for all maturities. The 3-month LIBOR rate 1 month ago was 12% per annum. All rates are compounded quarterly. Question 12 1 pts What is the continuously compounded zero rate for all maturities? (a) 12.00% (b) 11.80% 0 (c) 11.71% (d) 11.63% o (e) 11.53% Question 13 1 pts The present value of the asset is: O (a) $49.44m 0 (b) $48.76m C (C) $50 51m 0 (d) $51.32m 0 (e) 49.71m Question 14 1 pts The present value of the liability is: O (a) $49 44m (b) $48.76m 0 (c) $5051m (d) $51.32m O (e) 49.71m Question 15 1 pts The value of the swap (in millions to two decimal places - e.g. 3.56)