With the interest rate swap quotations shown in Exhibit 23.4, 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 $22.5 million.

You may assume the relevant part of the settlement date pattern and the realized LIBOR path shown in Exhibit, 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-daybasis.

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Settlement Number ofNumber of Current Fixed-Rate Roating-Rate Net Payment Year Settlement Date Actual Days 30/360 Days LIBOR Payment Recei Receipt) 4.25% October 23 April 23 October 23 April 23 October 23 April 23 October 23 - 183 183 182 183 182 183 180 4.40% 681,900 648,125 180 4.90% 681,900 671,000 180 5.05% 681,900 743,167 (61,267) 180 4.60% 681,900 770,125 (88,225) 180 4.35% 681,900 697,667 (15,767) 180 4.20% 681,900 33,775 10,900 663,375 18,525