Use the following information for questions 13 through 17. On September 16, a bank needs to issue $55 million of 180-day Eurodollar time deposits. The current rate of such time deposits is 7.25%. The bank is considering the alternative of issuing a 90 day time deposit at its current rate of 6.75% and selling a eurodollar futures contract.On December 16th, the Eurodollar Index is at 96, translating into a price per $100 face value of 99. The bank will then buy the amount of contracts sold. In addition, the 90 day time deposit will mature. The bank then has to pay back $55,928, 125 for the 90 day time deposit. The bank will issue another 90 day time deposit amount at a new rate of 6.00% for which amount? Select one: O a $55,842,599 O b. $55,370,000 Oc. $55,970,125 Od $55,350,000