What is resulting net payment

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Reference no: EM13938274

Swaps

Zhao Automotive issues fixed-rate debt at a rate of 8.00%. Zhao agrees to an interest rate swap in which it pays LIBOR to Lee Financial and Lee pays 6.6% to Zhao. What is Zhao's resulting net payment? Round your answer to one decimal place.

-(LIBOR + %)

Reference no: EM13938274

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