Alpha and Beta Companies can borrow for a five$-$year term at the following rates:

Alpha Beta

Moody$$s credit rating Aa Baa

Fixed$-$rate borrowing cost $10\%12\mathrm{.}2\%$

Floating$-$rate borrowing cost LIBOR LIBOR $+0\mathrm{.}9\%$

If there is no swap bank involved, and Alpha wants to borrow through floating debts and desires $70\%$ of the total benefit from the swap. How much could Alpha save from the swap? In other words, the all$-$in$-$cost for Alpha is LIBOR $-$ B$\%$ through the swap, and B is worth $70\%$ of the swap's total benefit $($For example, if the total benefit of the swap is $2\%,$ then B $=0\mathrm{.}7$ x $2\%=1\mathrm{.}4\%,$ you enter your answer as $"1\mathrm{.}4").$