Vanilla Swaps Cleveland Insurance Company has just negotiated a three$-$year plain vanilla swap in which it will exchange fixed payments of $8$ percent for floating payments of LIBOR plus $1$ percent. The notional principal is$$50$million. LIBOR is expected to be $7$ percent, $9$ percent, and $10$ percent $($respectively$)$ at the end of each of the next three years. a$.$ Determine the net dollar amount to be received $($or paid$)$ by Cleveland each year. b$.$ Determine the dollar amount to be received $($or paid$)$ by the counterparty on this interest rate swap each year based on the assumed forecasts of LIBOR.