Pfizer is a U.S. firm with considerable euro assets. It is considering entering into a currency swap involving $10 million of its dollar debt for an equivalent amount of euro debt. Suppose the maturity of the swap is 8 years, and the interest rate on Pfizer’s outstanding 8-year dollar debt is 11%. The interest rate on the euro debt is 9%. The current spot exchange rate is $1.35/€. How could a swap be structured?