Question 6 (1 point) Consider a plain vanilla interest-rate swap with an effective date of January 1 of year 1, notional amount of $100 million and quarterly payments. The reference rate is 3- month LIBOR. On January 1, the 3-month LIBOR is 3%, and 3-month Eurodollar futures maturing on June 30 and September 30 of year 1 are quoted as 96.5 and 96.2. Find the floating payment in the second quarter. $875,000 $884,722 $960,556 $971,111