Under the terms of the swap, Company X and Company Y are going to pay and receive payments from the bank 4 times in a year. The 3-month LIBOR rate was 6.0% per annum on the previous payment date. The average of the bid-offer rate being exchanged for 3-month LIBOR in swaps for all maturities is currently 3% per annum with continuous compounding. Ignoring day count issues, determine the current value of the swap and the possibility of credit risk associated with the swap to Company X and Company Y if the interest rate swap still has a = 9 months left from today, including today's transactions, if any. Use bond valuation approach for Company X and forward rate agreement (FRA) approach for Company Y. Under the terms of the swap, Company X and Company Y are going to pay and receive payments from the bank 4 times in a year. The 3-month LIBOR rate was 6.0% per annum on the previous payment date. The average of the bid-offer rate being exchanged for 3-month LIBOR in swaps for all maturities is currently 3% per annum with continuous compounding. Ignoring day count issues, determine the current value of the swap and the possibility of credit risk associated with the swap to Company X and Company Y if the interest rate swap still has a = 9 months left from today, including today's transactions, if any. Use bond valuation approach for Company X and forward rate agreement (FRA) approach for Company Y