. Consider a 6-month quarterly swap contract. The terms of the swap contracts specify the semiannual payments for the fixed cash flow and the quarterly payments for floating cash flow. The swap dealer shows the following information. Find out the swap rate Discounting factor for the period between now to 1st Quarter = 0.95 Discounting factor for the period between now to 2nd Quarter -0,9 Floating Payment at the end of 1st Quarter - 2.4 million Floating Payment at the end of 2nd Quarter-3.8 million Fixed payment at the end of 2nd Quarter - Swap Rate 1 million . 1.5%