Two Months from Today You Plan to Borrow $3 Million

Multiple Choice

Two months from today you plan to borrow $3 million for 6 months at LIBOR.You hedge your interest rate risk with a euro dollar futures contract priced at 93.6.If settled in arrears,what is your payment if the 6-month LIBOR is 2.5% in two months?

A) $8,500
B) $10,500
C) $13,500
D) $15,500