b) Enstead of paying one lump sum, suppose the swap buyer would prefer three equal payments for the swap, with one payment at the end of Year 1, one payment at the end of Year 2, and one payment at the end of Year 3. How much is each payment? (2 points) c) Suppose the spot price for gold in 1 year is $1295.00. If the swap buyer is the xed price payer, show the cash ows paid and received by the swap buyer at the end of Year 1. (2 points) (1) Show the net cash ow for the swap buyer at the end of year 1. Also show the net price paid for gold by the swap buyer. What is another name for the net price paid? (3 points) e) Does the swap buyer (xed price payer) expect higher prices or lower prices over the life of the swap? Explain your reasoning. (2 points)