Compute the initial price of a swaption that matures at timet=5and has a strike of 0. The underlying swap is the forward-starting swap that begins att=1, with maturityt=10

and a fixed rate of 4.5% with a notional of 1 million. To be clear, you should assume that if the swaption is exercised att=5then the owner of the swaption will receive all cash-flows from the underlying swap from timest=6 tot=11inclusive. (The swaption strike of 0 should also not be confused with the fixed rate of 4.5% on the underlying swap.)