please do it in 10 minutes will upvote

7. Company X and Company Y have been offered the following rates Fixed Rate Floating Rate 3.5% Company X Company Y 3-month LIBOR plus 10bp 3-month LIBOR plus 20bp 4.2% Suppose that Company X borrows fixed and company Y borrows floating. If they enter into a swap with each other where the apparent benefits are shared equally, what is company X's effective borrowing rate