Troder J03

i refer to BPP answer, part B(ii) maximum return is $7,175,000

however, i wanna try and check whether the maximum return is $7,175,000.
so i assume the LIBOR on october is 6%, estimated December future is 94.125 (basis risk 0.125),

i get the following answer:

actual interest received 400mx5.75%x5/12 = 9,583,333
net premium paid = (325,000)
loss on option (95.25-94.125)/400 x 400m x 5/3 = (1,875,000)

Total receipt is $7,383,333 which is more than 7,175,00.

and again i tried if the LIBOR is 7%, it also give me the same answer $7,383,333.

however, if LIBOR is 1% or 2%, i can get the answer $7,175,000.

i dunno what wrong with my calculation.