3. Assume that the current spot rate for the Swiss franc is SF 1.5/$, the US interest rate is 9%, and the Swiss interest rate is 8%. Firm X wishes to exchange 30 million Swiss francs for dollars. In return for these Swiss francs, Firm Y would pay $20 million to Firm X at the initiation of the swap. The term of the swap is three years and the two firms will make annual interest payments. If the spot rate at the end of year 1 changes to SF1.7/$, what is the net payment for year 1? 3. Assume that the current spot rate for the Swiss franc is SF 1.5/$, the US interest rate is 9%, and the Swiss interest rate is 8%. Firm X wishes to exchange 30 million Swiss francs for dollars. In return for these Swiss francs, Firm Y would pay $20 million to Firm X at the initiation of the swap. The term of the swap is three years and the two firms will make annual interest payments. If the spot rate at the end of year 1 changes to SF1.7/$, what is the net payment for year 1