An investor is interested in entering a pay floating, receive fixed interest rate swap with annual payments over the next four years. The current Libor-based interest rates (30/360 year) are:

Term (Years)	USD Libor	PV Factor
1	3.00%	0.970874
2	3.20%	0.939850
3	3.40%	0.907441
4	3.60%	0.874126

The no-arbitrage annualized fixed rate on the four year, annual payment swap is closest to:

A) 2.93%

B)3.67%

C)0.79%

D)3.41%