1. Suppose a equity swap dealer entered a receive-equity index and pay-fixed swap with a money manager. It is 30/360-day count, 10,000,000 notional amount, pay-fixed (6.2% annually, bur reset monthly. If the equity index return was 3.7% for the month (not annualized), what is the equity swap cash flow? Who pays whom and how much? b. How would your answer to part a change if the index return were -2% for the month? Show your calculations.