Question: A one-year floating-rate note pays 6-month Libor plus 90 bps. The floater is priced at 98.67 per 100 of par value. Current 6-month Libor is

A one-year floating-rate note pays 6-month Libor plus 90 bps. The floater is priced at 98.67 per 100 of par value. Current 6-month Libor is 1.17%. 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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