Consider a CDS on Lehman Brothers default event. Given today's market conditions you know that the present value of expected premium payments 6.0250*s, the present value of expected accrual payments is 0.0515*s and the present value of expected payoff is 0.1398. All measured per $1 of notional principal. You also know that Argo hedge fund bought this CDS on Lehman Brothers default from AIG one week ago with contractual rate of X basis points per year. Given this information the breakeven spread (i.e. the value of s) is__________and today's value of the CDS contract to AIG is negative if the value of s is _____________than X a. 230 basis points; greater b. 43 basis points; smaller c. 234 basis points; greater d. 230 basis points; smaller e. 43 basis points; greater