Can you please provide the explanation, formula and correct answer for the problem above?

Company A, a lower-rated firm, has access to floating-rate funds at a margin of .012 over LIBOR and fixed-rate funds at .10. In contrast, company B, a higher-rated firm, has access to fixed-rate funds at .08. Both companies enter into an interest rate swap with Bank C. Based on the swap, Bank C would gain .003 and each of the two companies would gain .006. What is the current floating rate available for Company B ? Select one: 0 a. LIBOR+1.4% C b. LIBOR+.3% 0 C. LIBOR+.7% 0 d. LIBOR+1.1\%