Exercise 1.2 - Swaps Assume the risk-free rates and discount curve calculated in Exercise 1a. You have a swap with the following characteristics: 0 Receive 3% fixed and pay float o Fixed and Float pay semi-annual o 10-year maturity o Notional is $1,000,000 What is the value of the swap? What is the par swap rate? What is the swap value if all risk-free rates are 1% higher? What is the par forward starting swap rate for a swap starting in 5 years for five-years (5x5)