A two year equity swap with semi-annual payments and a notional principal amount of $14.25 million is created. Importer A makes a floating payment based on 1Y Libor + 36 basis points & Importer B makes a fixed payment based on the Dow. If the Dow rises 5.85% and 1Y Libor is 4.59% at the end of the first period, what is the net cash flow?

a.$455,288 to A

b.$352,638 to B

c.$833,625 to A

d.$128,250 to B

e.$179,550 to A