6. You enter into a Rs. 100 million notional swap to pay six-month Libor and receive 8%. Payment dates are semi-annual on both legs. The last payment date was March 25 and the next payment date is September 25. Floating payments are based on the money-market convention (actual/360), and fixed payments are based on the 30/360 convention. If the net payment you will receive on September 25 is zero, what must have been the Libor reset on march 25? (a) 6%. (b) Lower than 6%. (c) Higher than 6%. (d) Cannot be calculated from the given information.