Question: Considering a floating rate note with the following characteristics: 1) face value of$100,000; 2) 1year and 3 months to maturity; 3) coupon paid semi-annually; 4)

Considering a floating rate note with the following characteristics: 1) face value of$100,000; 2) 1year and 3 months to maturity; 3) coupon paid semi-annually; 4) Referencerate is 6 months SHIBOR; 5) The next reset date is in 2 months. 6) The 6 month SHIBORrate at the last reset date was 3.5% per annum (assuming 360 days per year); 7) Todays2-month SHIBOR rate is 3.6% per annum. What is the value of this floating rate

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