Given an issued 10 year FRN for 100 million notional at 3M LIBOR + 25bps, what type of IRS can be used to convert this exposure to a fixed rate? Given a quote for this 10 year swap with a 7.5% fixed leg, and current LIBOR at 3.5%, what is the first net payment on the IRS + FRN? Assume quarterly payments at 90/360 day-count basis.