What is harcourt net payment

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Harcourt Corp. issues fixed rate date at 9%. It agrees to an interest rate swap which calls for it paying LIBOR to Brandt Co. and receiving 8.5% from Brandt. What is Harcourt's net payment?

  • LIBOR - 0.5%
  • LIBOR + 0.5%
  • LIBOR + 8.5%
  • LIBOR + 9.0%
  • None of the above

Reference no: EM131412301

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