You entered in to a 3 6 forward rate agreement that obliged you to borrow $10,000,000 at 3 percent. Suppose at the maturity of the FRA, the correct interest rate is 4 percent. Clearly you are better off since you can borrow $10,000,000 for 3 months at 3 percent instead of 4 percent. What is the payoff at the maturity of the FRA?

A. Net payment of $24,752.48 to you

B. Net payment of $12,391.57 to you

C. Net payment of $48,309.18 to you

D. Net payment of $50,000 to you