Start with the partial model in the file $F M 12 \mathrm{Ch} 23$ P06 Build a Model.xls from the textpress's fres site you the infremation what frem l'new $23-5$.a. (reate a hedge with the futures contract for Zinn (company's planned June debt offering of $\$ 10$ million. What is the implied yield on the bond underlying the futures contract?b. Suppose interest rates fall by 300 basis paints. What are the dollar savings from issuing the debt at the new interest rate? What is the dollar change in value of the futures position? What is the total dollar value change of the hedged position?c. Create a graph showing the effectiveness of the hedge if the change in interest rates, in basis points, is: $-300,-200,-100,0,100,200,$ or 300 Show the dollar cost (or savings) from issuing the debt at the new interest rates, the dollar change in value of the futures position, and the total dollar value change.