1/1/X3 |
12/31/X3 |
12/31/X4 |
12/31/X5 |
12/31/X6 |
12/31/X7 |
1/1/X8 |
|||
Interest Receipts/(Payments) |
|||||||||
Fixed-Rate Debt (FC)-9% |
- |
(919,286) |
(895,304) |
(889,119) |
(884,536) |
(875,510) |
- |
||
Interest Rate Swap |
- |
100,000 |
100,000 |
100,000 |
100,000 |
100,000 |
- |
||
FC Swap |
- |
19,286 |
(4,696) |
(10,881) |
(15,464) |
(24,490) |
- |
||
| Net Payment | - |
(800,000) |
(800,000) |
(800,000) |
(800,000) |
(800,000) |
- |
||
Fair Value Asset/(Liability) |
|||||||||
Contract Payable |
(10,000,000) |
(10,000,000) |
(10,000,000) |
(10,000,000) |
(10,000,000) |
(10,000,000) |
- |
||
Contract Receivable (FC) |
10,000,000 |
10,214,286 |
9,947,826 |
9,879,102 |
9,828,179 |
9,727,891 |
- |
||
Fixed-Rate Debt (FC) |
(10,000,000) |
(10,214,286) |
(9,947,826) |
(9,879,102) |
(9,828,179) |
(9,727,891) |
- |
||
Interest Rate Swap* |
- |
323,972 |
253,129 |
175,911 |
91,743 |
- |
- |
||
FC Swap* |
- |
62,481 |
(11,887) |
(19,141) |
(14,187) |
- |
- |
||
| Fair Value Liabilities | (10,000,000) |
(9,613,547) |
(9,758,758) |
(9,843,230) |
(9,922,444) |
(10,000,000) |
- |
||
* These values were calculated using the Present Value formula for the respective cash flows above
Sample Calculation: Interest Rate Swap at 12/31/X3 = PV($100,000 at 9% for 4years) = 323,972.