Consider a one-year interest rate swap with semi-annual payments, based on 30/360 day count convention. The term structure of LIBOR spot rates is given as follows: 6-month LIBOR at 7.2%, and 12-month LIBOR at 8.0%. What is the annualized fixed rate on the swap? O a. 7.42% O b. 7.84% O c. 7.56% O d. 7.93% A strengthening of the basis means O a. the futures price falls more than the spot price O b. a short hedger benefits Oc the spot price rises more than the futures price O d. all the answers are correct