Consider a plain vanilla interest-rate swap with an effective date of January 1 of year 1, notional amount of $100 million and quarterly payments. The reference rate is 3-month LIBOR. On January 1, the 3-month LIBOR is 3%, and 3-month Eurodollar futures maturing on June 30 and September 30 of year 1 are quoted as 96.5 and 96.2. Find the present value of the floating payment in the third quarter.

Question options:

	$772,877
	$783,611
	$882,192
	$894,444