Question: A one - year floating - rate note pays 6 - month Libor plus 9 7 bps . The floater is priced at 9 8

A one-year floating-rate note pays 6-month Libor plus 97 bps. The floater is priced at
98.17 per 100 of par value. Current 6-month Libor is 1.83%. Assume a 30/360 day-count
convention and evenly spaced periods. What is the annual discount margin for the floater in basis points?

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