PLEASE ITS URGENT, PLEASE ITS URGENT

A U.S. bank agrees to a swap of making fixed-rate interest payments of $12 million to a UK bank in exchange for receiving floating-rate payments of LIBOR + 4 percent in British pounds for a notional amount of 100 million.

At the end of the year 1, LIBOR is 4 percent and the exchange rate is $1.50/. At the end of year 2, LIBOR rates are 6 percent and the exchange rate is $1.50/. At the end of year 3, LIBOR rates are 6 percent and the exchange rate is $1.10/. What is the nominal payment paid or received by the U.S. bank over the three year period?

A) The U.S. bank received $1 million over the three year period.

B) The U.S. bank paid $0 over the 3 year period.

C) The U.S. bank received $2 million over the three year period.

D) The U.S. bank paid $2 million over the three period.

E) The U.S. bank paid $1 million over the three period.