Its ker U UU (LUR). 12. Interest Rate Swap. Reeber, a U.S.-based MN wap. Reeber, a U.S.-based MNC, wishes to transform its liability from fixed to floating in order to exploit what it perce S" order to exploit what it perceives as a market trend toward lower rates. ther locates a (USD) fixed to floating swap quoted at 5.3 percent. The e ale on this swap is six-month LIBOR. Assume that the swap as well as the MNC S liability have the same maturity (10 years) and that both pay coupons once a year. ne firm pays a coupon of 4 percent on its existing liability, what is the net interest cost (in percent) after executing the swap? If