Suppose term of the structure of interest rate is flat in both US and Japan. The Japanese rate is 5% per annum and US rate is 10% per annum (both with continuous compounding). A financial enter a currency swap: (a) received 6% per annum in yen and (b) 9% per annum in dollars and (c) exchange once a year (d) the principal $10 million (dollars) and $1200 (yen). Life of swap is equal to two years and the exchange rate is S=110 yen/per dollar. What is the value of the swap (in terms of bond prices)?