A
AcadiFi
Fixed IncomeHard

Mapleton Capital holds a 5-year CDS position as a protection buyer on Ridgeline Corp with a notional of $15 million and a contracted spread of 180 bps. The current market CDS spread for Ridgeline has widened to 290 bps and the CDS has an effective duration of 4.1 years. The mark-to-market value of Mapleton's position is closest to:

CFA Level II — Fixed Income Practice Question | AcadiFi | AcadiFi