Company X wants to borrow $10,000,000 floating for 5 years & company Y wants to borrow $10,000,000 fixed for 5 years. Company X and Y fixed rate borrowing costs are 10% and 12% respectively Company X and Y floating rate borrowing costs are LIBOR and LIBOR plus 1.5% respectively. A swap bank proposes the following interest only swap Y will pay the swap bank annual payments on $10,000,000 with a fixed rate of rate of 9.90%. In exchange the swap bank will pay to company Y interest payments on $10,000,000 at LIBOR -0.15%. What is the annual saving value of this swap to company Y, to nearest dollar