Company ABC borrows from the Usury Loan Corp. for two years at a variable interest rate. The loan amount is 1,000,000 in the first year and 800,000 in the second year. Company ABC enters into an interest rate swap under which it will pay interest to its counterparty at a level interest rate R, and its counterparty will pay interest to Company ABC at the loan's variable interest rate. The spot rates on the date the swap is entered into are 6% for a one-year term and 7% for a two-year term. Determine R. a. 6.8550% b. 7.0251% c. 6.9660% d. 6.5540% O e. 6.7254%