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Q. Company ATA entered into a swap contract 1 year ago to pay annual payments at a fixed rate of 2% per year on a

Q. Company ATA entered into a swap contract 1 year ago to pay annual payments at a fixed rate of 2% per year on a notional principal of $100m. The swap has a remaining life of 2 years with the next payment due in 1 year. Based on the available zero interest rates, what is the value of this swap for ATA in terms of bond prices?

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