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Assume Microsoft has entered into a swap agreement to receive 6-month LIBOR and pay a fixed rate of 6% per year every 6 months for
Assume Microsoft has entered into a swap agreement to receive 6-month LIBOR and pay a fixed rate of 6% per year every 6 months for 3 years. The following information is available: Initiation Date: March 8th, 2021 Principal: $150 million LIBOR March 8th 2021: 5.2% LIBOR September 8th 2021: 5.3% LIBOR March 8th 2022: 4.7% LIBOR September 8th 2022: 5.4% LIBOR March 8th 2023: 5.5% LIBOR September 8th 2023: 6.2% LIBOR March 8th 2024: 6.7% What is Microsoft's cumulative net cash flow over the life of the swap? If your answer is negative, enter a "-" before the number
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