Pay Fixed - Receive Floating

A $10 million 1-year semi-annual-pay LIBOR-based interest-rate swap was initiated 90 days ago when LIBOR was 4.8 percent. The fixed rate on the swap is 5 percent, current 90-day LIBOR is 5 percent and 270-day LIBOR is 5.4 percent. What is the PV of all floating rate payments for the year?