Jim has a long position in an interest rate swap with a maturity of two years, an annual settlement frequency, a variable rate equal to the 12-month LIBOR rate, and a notional principal of $100. Susan has 1) a long position in a 012 FRA with a variable rate equal to the 12-month LIBOR rate and a notional principal of $100, and 2) a long position in a 1224 FRA with a variable rate equal to the 12-month LIBOR rate and a notional principal of $100. Why might Jim and Susan realize different settlement cash flows on their positions? There would be no differences in settlement cash flows. The fixed rate on the swap is different from the fixed rates on the FRA's. The floating rate on the swap is different from the floating rates on the FRA's. None of the other statements are true