An Australian firm enters into a plain vanilla interest rate swap agreement to receive a fixed rate of 6%, and pay one-year LIBOR

An Australian firm enters into a plain vanilla interest rate swap agreement to receive a fixed rate of 6%, and pay one-year LIBOR. Semi-annual payments will be made in arrears. The swap covers a ten year period and is based on a notional principal of $150 million. The one-year LIBOR rate at the time of agreement is 6.25%, at the end of six months is 7% and at the end of the first year is 7.55%. What is the net payment that the firm receiving the fixed rate payments RECEIVES or PAYS at the end of the first year?