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You take a long position in a FRA that expires in 45 days and is based on 145-day LIBOR. The dealer quotes you a rate

You take a long position in a FRA that expires in 45 days and is based on 145-day LIBOR. The dealer quotes you a rate of 4.75% on this FRA. Assume that at expiration, the 145-day LIBOR is 4% and the notional principal is $20,000,000. (a) Calculate the FRA payoff on your long position at expiration.(

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