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You signed a 10-year interest swap with annual payments to pay floating and receive fixed. The quote was 2.5-2.7% against LIBOR flat. The principal is

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You signed a 10-year interest swap with annual payments to pay floating and receive fixed. The quote was 2.5-2.7% against LIBOR flat. The principal is 100,000. What is the value of the swap 5 years later if the interest rate on 5-year assets with similar risk is 3%? (please use a fixed rate to discount the cash flows.) Round to the nearest US cent (2 decimal places)

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