Assignment 12: Chapter 23 Swed Help Save it Sube Check my 14 Suppose that at the present time, one can enter 5 year swaps that exchange LIBOR for 7. An off markers would then be defined as a swap of LIBOR for a fixed rate other than 7%. For example, a firm with 12 coupon debt outstanding might like to convert to synthetic floating-rate debt by entering a swap in which it pays LIBOR and receives a fixed rate of 12 What up front payment will be required to induce a counterparty to take the other side of this swap? Assume notional principalis 545 million (Do not round Intermediate calculations. Round your final answer to the nearest dollar amount.) 4 points Upfront payment