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Can someone help me in this question . provide me with a simple and detailed answer kindly do not provide me with the book solution.

Can someone help me in this question . provide me with a simple and detailed answer kindly do not provide me with the book solution. Thnaks,

8. Suppose Morgan Guaranty, Ltd. is quoting swap rates as follows: 7.75 - 8.10 percent annually against six-month dollar LIBOR for dollars and 11.25 - 11.65 percent annually against six-month dollar LIBOR for British pound sterling. At what rates will Morgan Guaranty enter into a $/ currency swap?

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