Snapchat needs capital, and the CFO thinks interest rates are going higher. Arthur Anderson, an analyst at the company suggests a fixed rate bank borrowing, but Pete Marwick, another analyst suggests that borrowing should be avoided and the company should instead execute an interest rate swap where the company pays floating and receives fixed. Dorothy Deloitte, a third analyst agrees about avoiding the borrowing but says the company should execute a pay fixed and receive floating swap. Ernst N. Young suggests selling Eurodollar futures instead. Who is right?

		Dorothy Deloitte
		Arthur Anderson
		Ernst N. Young
		Pete Marwick