Question 19 (1 point) A firm wishes to issue a standard fixed-rate note. It considers several alternatives. Fixed rate note: 4.50% Simple floating rate note (FRN): L+.25% Inverse (bull) floater: 8.3%-L which can be combined with an IR swap (4% (bid) 4.10% (ask) fix to get LIBOR) What's the cheapest way to get fix rate financing? 4.5% 4.35% 4.3% 04.2% Question 20 (1 point) US and Japanese interest rates are 3% and 1%. Spot exchange rate is 100 JPY/1 USD. Swap notional is $1m. What's the fair annual payment exchange for JPY/USD annual swap $30k vs. 10k JPY $30k vs. 1m JPY $10k vs. 3m JPY O$10k vs 30k JPY