Gregorian Energy has an outstanding loan of $100 million on which it pays a fixed rate of 6%. Gregorian believes that interest rates will go down in the near future and enters a swap with Soft Bank to take advantage of the declining rates. In the swap it pays a floating rate of LIBOR +0.20% and receives a fixed rate of 5.6%. What is Gregorian Energy's interest rate it pays on its liability if it takes the swap into consideration? 5.6% LIBOR+0.60% LIBOR 6%