With the interest rate swap quotations shown in the Table 1, calculate the swap cash flows from the point of view of the fixed-rate receiver on a two-year swap with a notional principal of $25.5 million. You may assume the relevant part of the settlement date pattern and the realized LIBOR path shown in the Table 2 for the three-year agreement. Also, calculate the fixed-rate payment on a 30/360-day count and the floating-rate payments on an actual/360-day basis.

Table 1. U.S. Semi-Annual Fixed (30/360) vs. 6-mo. LIBOR
	Swap Fixed Rate (%)		Swap Spread (bp)
Swap Maturity		Bid	Ask	Mid		Bid	Ask
1 Yr			4.6480	4.6560	4.6520
2 Yr			4.4890	4.4960	4.4925		65.90	66.40
3 Yr			4.5350	4.5500	4.5450		70.78	71.30
4 Yr			4.6360	4.6410	4.6385		67.10	67.80
5 Yr			4.7100	4.7150	4.7125		65.70	66.20
6 Yr			4.8090	4.8090	4.8090		66.00	66.40
7 Yr			4.8740	4.8740	4.8740		66.30	66.80
8 Yr			4.9350	4.9350	4.9350		66.10	66.30
9 Yr			4.9850	4.9900	4.9885		64.30	65.30
10 Yr			5.0450	5.0500	5.0475		62.33	63.60
15 Yr			5.1910	5.1960	5.1935		71.60	72.00
20 Yr			5.2650	5.2650	5.2650		70.00	70.20
25 Yr			5.2810	5.2870	5.2840		65.70	66.20
30 Yr			5.2940	5.3010	5.2975		58.00	58.50

Table 2. Three-Year Plain Vanilla Interest Rate Swap
Settlement	Settlement	Number of	Number of	Current
Year	Date	Actual Days	30/360 Days	LIBOR
0		October 23			4.25%
1		April 23	183	180	4.40%
1		October 23	183	180	5.00%
2		April 23	182	180	4.85%
2		October 23	183	180	4.60%
3		April 23	182	180	4.35%
3		October 23	183	180	4.20%

Fill in the table below. Do not round intermediate calculations. Round your answers to the near cent

\begin{tabular}{|c|c|c|c|c|c|} \hline \begin{tabular}{c} Settlement \\ Year \end{tabular} & \begin{tabular}{c} Settlement \\ Date \end{tabular} & & \begin{tabular}{c} Fixed-Rate \\ Receipt \end{tabular} & & \begin{tabular}{l} loating-Rate \\ Payment \end{tabular} \\ \hline 1 & April 23 & $ & & $ & \\ \hline 1 & October 23 & $ & & $ & \\ \hline 2 & April 23 & $ & & $ & \\ \hline 2 & October 23 & $ & & $ & \\ \hline 3 & April 23 & $ & & $ & \\ \hline 3 & October 23 & $ & & $ & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \begin{tabular}{c} Settlement \\ Year \end{tabular} & \begin{tabular}{c} Settlement \\ Date \end{tabular} & & \begin{tabular}{c} Fixed-Rate \\ Receipt \end{tabular} & & \begin{tabular}{l} loating-Rate \\ Payment \end{tabular} \\ \hline 1 & April 23 & $ & & $ & \\ \hline 1 & October 23 & $ & & $ & \\ \hline 2 & April 23 & $ & & $ & \\ \hline 2 & October 23 & $ & & $ & \\ \hline 3 & April 23 & $ & & $ & \\ \hline 3 & October 23 & $ & & $ & \\ \hline \end{tabular}