A fixed-for-floating interest rate swap has semiannual payments, a notional principal of $500,000, and a fixed rate of 6.15%. On the most recent reset date, the floating rate was 5.95%. On the next payment date,

A) the fixed-rate payer will pay the floating-rate payer $500.

B) the floating-rate payer will pay the fixed-rate payer $1,000.

C) the floating-rate payer will pay the fixed-rate payer $14,875, and the fixed-rate payer will pay the floating-rate payer $15,375.