Assume Carlton enters into a three$-$year fixed$-$for$-$fixed swap

agreement to receive Swiss Franc and pay U$.$S$.$ dollar annually,

on a notional amount of $$2,000,000.$ The spot exchange rate

at the time of the swap is SF$0\mathrm{.}8/$$$.$ Assume that one year into

the swap agreement Carlton decides it wishes to unwind the

swap agreement and settle it in dollars. Assuming that a two$-$

year fixed rate of interest on the Swiss Franc is now $2\mathrm{.}59\%,$

and a two$-$year fixed rate of interest on the dollar is now

$5\mathrm{.}90\%,$ and the spot rate of exchange is now SF$0\mathrm{.}807/$$$.$ To

Carlton, what is the net present value $($in dollar$)$ of the swap

agreement? $($Keep the sign and two decimal places.$)$