On July 31, 2020, a trader from a large bank's interest rate desk initiated a customized 2-year interest rate swap deal with a notional value of USD 7.5 million. According to the terms of the swap, the bank received a fixed annual interest rate of 2.3%, while it was required to pay an annual rate determined by the SOFR on the first day of each payment month, plus an additional 1.95%. Payments were made semiannually. The table below displays the relevant SOFR rates for the 2-year period:

Date	6-month SOFR
1-Jul-20	0.11%
1-Jan-21	0.10%
1-Jul-21	0.05%
1-Jan-22	0.05%
1-Jul-22	1.52%

Assuming there were no defaults, what is the precise net amount the bank either paid or received on July 31, 2022?