"The Aleander Company plans to issue $20,000,000 of 20-year bonds next June, with semiannual interest payments. The company's current cost of debt is 10 percent. However, the firm's financial manager is concerned that interest rates will increase in coming months, and has decided to take a short position in U. S. government t-bond futures. See the settle data below for t-bond futures.
find out the current value of the futures position.