Harold borrowed $5000 for two years from ACE Bank at a variable interest rate. Harold will make an interest payment to the bank at the end of each year based on the 1-year spot interest rate at the start of that year and also repays $5000 at the end of 2 years. The current one-year spot rate is 2.3% and the 2-year spot rate is 3.4%. Harold decided to enter into a two-year interest rate swap with annual settlement periods under which he will swap the variable interest rate for a fixed interest rate. Determine the net swap payment that will occur at the end of the first year and state whether Harold will receive the payment or make the payment. Possible Answers will receive $43 will pay $55 will receive $55 will pay $54 receives $54