A company in the Philippines decided to enter into a currency swap. It will receive a fixed rate of 5% in Philippine Peso (PHP) in exchange for a 6.5% fixed-rate payment to be made in U.S. dollars (USD). The agreed-upon notional principals are PHP 50 million and USD 1 million, and payments are made on a semiannual basis assuming 30 days per month and 360 days per year. How much will the counterparty pay the Philippine company at the end of the swap? P51,250,000 $1,032,500