A corporation enters Into a five-year Interest rate swap with a swap bank In which...

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Accounting

image A corporation enters Into a five-year Interest rate swap with a swap bank In which It agrees to pay the swap bank a fixed rate of 10.55 percent annually on a notional amount of 15,000,000 and recelve slx-month CME Term SOFR +0.5 percent. As of the second reset date, determine the price of the swap from the corporation's viewpoint assuming that the fixed rate side of the swap has Increased to 11.05 percent

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