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

USD $360-$day LIBOR at the date the swap is created: $3\mathrm{.}72\%$

USD $360-$day LIBOR after $1$ year: $3\mathrm{.}81\%$

The terms of the agreement are as follows:

Fixed rate $4\mathrm{.}22\%$

Tenor, years $2\mathrm{.}0$

Notional principal $4,000,000\mathrm{.}0$

Frequency Annual

Floating rate USD $360-$day LIBOR

What is the net cash flow for B $($the Receiver$)$ in year $1?$

Select one:

$20,000\mathrm{.}0$

$16,400\mathrm{.}0$

$(16,400\mathrm{.}0)$

$(20,000\mathrm{.}0)$