A bank offers the following swap quotes (expressed in basis points) over the yield of the sovereign (government) debt: $: 65 (bid) - 75 (ask) against 1 year dollar LIBOR : 60 (bid) - 70 (ask) against 1 year dollar LIBOR The dollar Treasury bond (US government debt) yields 2% p.a. and the euro Bund (German government debt) yields 3% p.a. You wish to swap out of $7 million into the equivalent euro debt at a spot exchange rate of $1.37 Your expected annual interest payments in euro are: Select one: A. $185,550 O B. $192,500 C. 199,231 OD. 259,000