Firm ABC has a bond with face value of $25,000,000 and ABC pays it's bondholders a fixed annual rate of 7%. Firm XYZ pay it's bondholders a floating rate of LIBOR + .2% on a bond of $25,000,000. Both firms wish to change the nature of their payment so, they enter into the following direct swap for the next 5 years: on specific dates, ABC will pay XYZ LIBOR - .1%, while XYZ will pay ABC 6.8%.

Describe a chart of the above swap based on $25,000,000 notional amount and annual payments for the next 5 years and calculate the percentages that ABC and XYZ will pay following the swap.