Boeing has entered into a 10 year interest rate swap with Bank America with a notional principal of $500 million. Boeing has agreed to pay LIBOR the floating rate side of the swap. Bank America has agreed to pay a fixed rate of 7%. Assume that next year, LIBOR is 6.25%. The net payment at that date will be: a. Boeing pays Bank America $3,750,000 b. Boeing pays Bank America $750,000 c. Bank America pays Boeing $750,000 d. Bank America pays Boeing $503,750,00 e. Bank America pays Boeing $3,750,000