70 days ago, the mutual fund entered into a two-year currency swap by agreeing to swap US dollars for euros at the fixed

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70 days ago, the mutual fund entered into a two-year currency
swap by agreeing to swap US dollars for euros at the fixed rates.
The annualized fixed rate in dollars and euros are 7.25% and 7.1%,
respectively. The exchange rate at the start of the swap was $0.78.
The new exchange rate today is $0.55. Assume that the notional
dollar amount is $25,000,000. The payments are made annually based
on the assumption of 30 days per month and 360 days in a year. The
adjustment of Current LIBOR and Euribor rates are shown below-
Term
LIBOR (%)
Euribor (%)
290 days
7.4
5.5
650 days
7.8
6.0
Determine the market value of the swap today from the
counterparty’s perspective, which pays euros and receives
dollars