Help me, please!

Problem 12-8 (IAA) On January 1, 2020, Genial Company borrowed P5,000,000 from a bank at a variable rate of interest for 4 years. Interest will be paid annually to the bank on December 31 and the principal is due on December 31 2023. Under the agreement, the market rate of interest every January 1 resets the variable rate for that period and the amount of interest to be paid on December 31. In conjunction with the loan, the entity entered into a "receive variable, pay fixed" interest swap agreement with another bank speculator as a cash flow hedge. The market rates of interest are 6% on January 1, 2020, 10% on January 1, 2021 and 8% on January 1, 2022. The present value of an ordinary annuity of 1 at 10% for three periods is 2.49 and the present value of an ordinary annuity of 1 at 8% for two periods is 1.78. 1. What is the notional amount of the interest rate swap? a. 5,000,000 b. 2,000,000 C. 2,500,000 d. 0 2. What is the derivative asset or liability on December 31, 2020? a. 200,000 asset b. 200,000 liability c. 498,000 asset d. 498,000 liability 3. What is the derivative asset or liability on December 31, 2021? a. 100,000 asset b. 100,000 liability C. 178,000 asset d. 178,000 liability