JTM's can its $150M in bonds - maturing in 7 years and paying a fixed 4.45% - for the same amount paying a floating rate of the Bloomberg Short Term Bank Yield Index + 1.50%. You are asked to show the cash flows for the fixed and floating scenarios and the net difference each year plus the net overall difference undiscounted and discounted using a 5% discount rate. Show all fixed and floating payments as negative cash flows. Net benefits use the formula: floating payments minus fixed payments.