8 You are a dealer and quote a 6-month GBP/JPY swap to a customer as 435/425. The customer buys and sells GBP 1,000,000, based on a spot of 178.10. You cover this position using two 6-month swaps quoted to you as follows:

73/69 for GBP/USD (the deal is for GBP 1,000,000 and the spot is set at 1.4260)

240/235 for USD/JPY (the deal is for USD 1,426,000 and the spot is set at 124.85).

What are your net cashflows spot and forward?