A currency swap has a remaining life of 15 months. It involves exchanging interest at $10 \%$ on $£ 20$ million for interest at $6 \%$ on $$\$ 30$$ million once a year. The term structure of riskfree interest rates in the United Kingdom is flat at $7 \%$ and the term structure of risk-free interest rates in the United States is flat at $4 \%$ (both with annual compounding). The current exchange rate (dollars per pound sterling) is 1.5500 . What is the value of the swap to the party paying sterling? What is the value of the swap to the party paying dollars?