Question: Consider a floater whose coupon formula is 3-month LIBOR plus 45 basis points and delivers coupon payments quarterly. The flat price of the floater is

Consider a floater whose coupon formula is 3-month LIBOR plus 45 basis points and delivers coupon payments quarterly. The flat price of the floater is 99.99 and the floater has 345 days until maturity. What is the spread for life?

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