ANZ entered a swap agreement with Citi. In this swap contract, ANZ receives 8% per annum in AUD and pays 7% per annum in USD to Citi. The principals are 10 million AUD and 8 million USD, respectively. For all maturities, the AUD interest rate is 7% per annum, and the USD interest rate is 5% per annum. Assume all interest rates are continuously compounded. One AUD is currently worth 0.7 USD. Payments are exchanged every year, with one exchange having just taken place. The swap will last two more years. What is the value of the swap to Citi in USD?Show your step-by-step workings.