IBM wants to swap out of $10,000,000 of fixed interest rate debt and into floating interest rate debt for 3 years. Assume the fixed interest rate is 7.625 percent and the floating rate is dollar LIBOR at 0.65 percent (average interbank interest rate at which a selection of banks on the London money market are prepared to lend to one another). What semiannual interest payments will IBM receive and what will IBM pay?