A $($the Payer$)$ enters into a fixed for floating swap arrangement with B $($the Receiver$)$ via a swap dealer.

USD $360-$day LIBOR at the date the swap is created: $4\mathrm{.}36\%$

The terms of the agreement are as follows:

Bid Offer

Swap rate $5\mathrm{.}55\%5\mathrm{.}58\%$

Tenor, years $3\mathrm{.}0$

Notional principal $1,000,000\mathrm{.}0$

Frequency Annual

Floating rate USD $360-$day LIBOR

What will be the profit for the intermediary swap dealer over the life of the trade?

Select one:

$300\mathrm{.}0$

$(900\mathrm{.}0)$

$900\mathrm{.}0$

$0\mathrm{.}0$