1. Consider a fixed-rate semiannual-pay interest rate swap with a 1-year tenor, in which the floating payments are based on the 6-month LIBOR on a $1 million portfolio. We have the following information on current LIBOR: 180-day LIBOR is 2.3% 360-day LIBOR is 2.5% What is the fixed rate on the swap? A) 2.4197%. C) 2.1387%. B) 2.4834%.