6 months ago, Nourhan entered in a two years semi-annual interest-rate swap contract with a notional amount of $10 million, pays a swap fixed rate (SFR) of 3.8%, versus a semi-annual LIBOR. The current SFR is now 3.4% and the LIBOR rates are as follows, Value this swap contract to Nourhan is closest to:*

1,000

970

1,040