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On January 1, 2022, Boyd Corp. Issued 10-year, $1,000,000 bonds at par. The bonds make payments annually on December 31 at a stated fixed

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On January 1, 2022, Boyd Corp. Issued 10-year, $1,000,000 bonds at par. The bonds make payments annually on December 31 at a stated fixed rate of interest of 6.0%. On January 1, 2022, Boyd Corp. also entered into an interest rate swap. In this arrangement, Boyd Corp. paid variable interest rates to a swap bank and in return, the swap bank paid fixed Interest to Boyd Corp. Interest rates during the first year of the Interest rate swap were the following: Rate January 1, 2022 December 31, 2022 Fixed rate 6.0% 6.0% Market rate 6.0% 5.5% On December 31, 2022, what is the net amount of cash paid or received by Boyd Corp on the settlement of the interest rate swap? (Enter all amounts as positive values.) received Net amount of cash paid or re

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