You are a fixed-rate (=3% pa) payer of an IRS as given in the table. Today's 6-month Libor rate is announced as 6% pa, which will be the last floating rate applicable for this IRS. Then, what is today's value of your IRS position? (1) 0.98; (2) 1.10; (3) 1.22; (4) 1.34; (5) 1.46; (6) 1.58; (7) 1.70; (8) 1.90; (9) 2.83; [pa = per annum] fixed vs. float. rate swap interval Notional principal Remaining maturity every 6 months $ 100 million 6 months