$[$Chapter $31\mathrm{.}15]$ The Hieber Asset Management firm purchased the following FRA from the First Commercial Bank Corporation: $(1)$ reference rate is the three$-$month LIBOR, $(2)$ contract rate is $6\%(3)$ notional amount is for $$20$ million, and $(4)$ number of days to settlement is $91$ days.$*$ Suppose the settlement rate is $6\mathrm{.}5\%.$ Which party must compensate the other at the settlement date?$*$ If the settlement rate is $6\mathrm{.}5\%,$ how much will the compensation be$?$