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Kroger wants to borrow $100 million at a fixed rate. Kroger's bank quotes a fixed rate of 6.75% or a floating rate of Libor +1.51%.

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Kroger wants to borrow $100 million at a fixed rate. Kroger's bank quotes a fixed rate of 6.75% or a floating rate of Libor +1.51%. A swap bank quotes an interest rate swap as 2.002.86 against tibor. If Kroger enters into a swap agreement, how much will Kroger send the Swap Bank if Lbor a 1.576? Note: your answer should be in dollars. If on net Kroger receives money from the 5 wap Bank enter a negative number

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