23-108 Instead of a Cap,if the Bank Had Purchased a 3-Year

23-108 Instead of a cap,if the bank had purchased a 3-year 6 percent floor and interest rates are 5 percent and 6 percent in years 2 and 3,respectively,what are the payoffs to the bank?

A) The bank will receive $50,000 at the end of year 2 and receive $50,000 at the end of year 3.
B) The bank will receive $50,000 at the end of year 2 and pay $50,000 at the end of year 3.
C) The bank will receive $0 at the end of year 2 and pay $50,000 at the end of year 3.
D) The bank will receive $0 at the end of year 2 and receive $50,000 at the end of year 3.
E) The bank will receive $50,000 at the end of year 2 and pay $0 at the end of year 3.