AT&T signed a 5-year swap two years ago. In the 5-year swap, AT&T agreed to pay a fixed rate of 6.5% per annum on a notional of 200,000 USD. Now there are only 3 years left on the swap. As of today, we have the following spot rates:
Time Spot Rate
1 0.05
2 0.057
3 0.065
4 0.075
5 0.080
Calculate the market value of the swap.