Question: I need a typed answer without wasting time . Please solve fast. I will give you a helpful rating if you solve fast and correct.

I need a typed answer without wasting time .

Please solve fast.

I will give you a helpful rating if you solve fast and correct.

Kroger wants to borrow $50 million at a fixed rate. Kroger's bank quotes a fixed rate of 7.74% or a floating rate of LIBOR + 2.54%. A swap bank quotes an interest rate swap as 3.00-3.48 against LIBOR. If Kroger enters into a swap agreement how much will Kroger send the swap bank if LIBOR is 2.17%?

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