Using future contracts for hedging interest rates

I am interested in using the 10 year Treasurey Note futures traded on the CBOT (Chicago Board of trade) to "hedge" my long-term borrowing needs. A business expansion, taking place over the next 12 months and costing around $350,000 is my main interest, but we also have existing debt of around $1.8 million. I find long term rates very attractive right now and want to attempt to lock them in on the expansion debt. I am involved in agriculture and we work with a lending organization where are interest rates are based off the 10 year note, so we have a pretty true hedge I think. I am familiar with hedging agriculture products (corn/soybeans/cattle), so I don't need a hedging/futures tutorial. What I need is a better understanding of the correlation between treasury notes and interest rates. I see the 10 year note is currently about 112, and a yahoo chart puts the interest rate at a little over 4% -- how does this calculation work. And say I sell 1 10 year note futures contract, what is my profit/loss if interest rates move up or down 2%?

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