A financial institution X has entered into a five-year currency swap with another institution Y. The swap specifies that X receives fixed interest rate at 4% per annum in euros and pays fixed interest rate at 6% per annum in U.S. dollars. The principal amounts are 10 million U.S. dollars and 13 million euros, and interest payments are exchanged semi-annually. Suppose that Y defaults at the end of Year 3 after the initiation of the swap. Find the replacement cost to the counterparty X. Assume that the exchange rate at the time of default is $1.32 per euro and the prevailing interest rates for all maturities for U.S. dollars and euros are 5.5% and 3.2%, respectively.