A firm had entered into a swap arrangement for notional principal of Rs 10 million with a bank, whereby the bank paid a fixed 9% and received MIBOR semi-annually . It has three more years to go, and just has exchanged the cash flows. The 6-m MIBOR for the next payment of interest was set at 8 %. The next day, the market exhibited a fall and the 6-m MIBOR fell to 7%., leading the firm to believe that it is overpaying. They want to cancel the swap arrangement. In that event what is the amount and direction of the cash flow? Assume flat term structure and annual compounding ( Use bond method)