swaps question question, current, someone

PieMan

A $10 million 1-year semi-annual-pay LIBOR-based interest-rate swap was initiated 90 days ago when LIBOR was 4.8%. The fixed rate on the swap is 5%, current 90-day LIBOR is 5% and 270-day LIBOR is 5.4%. The value of the swap to the fixed-rate payer is closest to:

A) $19,229.

B) $15,633.

C) $12,465.


____________________________________________

im having a hard time grasping the time-lines in these and figured if i saw it from someone elses prespective might make things clearer - please show your work.