Company X wants to borrow $10,000,000 floating for 5 years; company Y wants to borrow $10,000,000 fixed for 5 years. Their external borrowing opportunities are shown here: Fixed-Rate Borrowing Cost 10% Floating-Rate Borrowing Cost LIBOR LIBOR + 1.5% Company X Company Y 12% A swap bank proposes the following interest only swap: X will pay the swap bank annual payments on $10,000,000 with the coupon rate of LIBOR 0.15 percent; in exchange the swap bank will pay to company X interest payments on $10,000,000 at a fixed rate of 9.90 percent. Y will pay the swap bank interest payments on $10,000,000 at a fixed rate of 10.30 percent and the swap bank will pay Y annual payments on $10,000,000 with the coupon rate of LIBOR 0.15 percent. - 10% X LIBOR - 159 SWAP LIBOR-15 BANK 9.90% 10.30% Y LIBOR + 1'2 What is the value of this swap to the swap bank