Botany Bay Corporation. Botany Bay Corporation of Australia seeks to borrow US$30,000,000 in the eurodollar market. Funding is needed for two years Investigation leads to three possibilities. Compare the alternatives and make a recommendation. 1, Botany Bay could borrow the US $30,000,000 for two years at a fixed 4% rate of interest. 2. Botany Bay could borrow the US$30.000.000 at LIBOR + 1.500%, LIBOR is currently 3.500%, and the rate would be reset every six months 3. Botany Bay could borrow the US$30 000,000 for one year only at 4 500%. At the end of he first year Botany Bay would ave to negotiate or a new one year an