Net Cash Flow Calculation for Swaps

Two companies, Firm A and Firm B, enter into an interest rate swap agreement. Firm A will pay a fixed interest rate of 5% on a notional amount of $10 million to Firm B. In return, Firm B will pay a floating interest rate based on LIBOR, which is currently at 4.5%, plus a spread of 1%. The terms of the swap state that the floating payments will occur quarterly. What is the net cash flow that Firm B will receive in the first quarter of the swap agreement?