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A currency swap has a remaining life of 26 months. It involves exchanging 2.7% interest on CHF50 million for interest at 2.9% on USD 55

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A currency swap has a remaining life of 26 months. It involves exchanging 2.7% interest on CHF50 million for interest at 2.9% on USD 55 million once a year. The term structure of interest rates in both 5 witzerland and the United States is currently flat, and if the swap were negotiated today, the interest rates exchanged would be 2.50% in CHF and 2.70% in USD (both rates compounded annually). The current exchange rate (USD per CHF) is 1.12. What is the value of the swap to the party receiving USD

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