Why is the answer D ?

The following information is about current spot rates for an FI's assets (loans) and liabilities (CDs). All interest rates are fixed and paid annually. Assets Liabilities 1-year loan rate: 7.50 percent 1-year CD rate: 6.50 percent | 2-year loan rate: 8.15 percent 2-year CD rate: 6.65 percent 9-85 If rates do not change, the balance sheet position that maximizes the FI's returns is a positive spread of 15 basis points by selling 1-year CDs to finance 2-year CDs. a. 9-12 Chapter 09 - Interest Rate Risk II b. loans. a positive spread of 100 basis points by selling 1-year CDs to finance 1-year c. a positive spread of 85 basis points by financing the purchase of a 1-year loan with a 2-year CD. a positive spread of 165 basis points by selling 1-year CDs to finance 2-year d. loans. e. a positive spread of 150 basis points by selling 2-year CDs to finance 2-year loans. Answer: D