a swap lasts for three years and has a notional value of $100. The seller pays LIBOR + 0.5% and receives 3% from the buyer. LIBOR is currently 2.2% and is expected to change to 2.5% in six months. It is expected to stay at 2.5% for a full year, but in a year and a half the rate is expected to go to 2.6% and stay there. What is the present value of the seller's leg in this swap? (Round to nearest penny.)