3. Consider the oil calendar swap example provided in the text. Table 7.5 provided the swap curve derived from the futures curve. To calculate the mark-to-market value of the swap and its “fair price,” we just require information about the discount factor or yield curve. Assume the following discount factor below, taken from Blanco and Pierce (2013)

and calculate the floating payments, fixed payments, net payments, NPV of the net payment and swap mark-to-market and fair price for the swap. Assume a valuation date of December 18, 2012.