The 5-year borrowing costs of two MNCs are summarized in the following table. A swap bank quotes 5-year $ swaps at 8.00-8.15 percent and 5-year swaps at 6.00-6.10 percent. USD EUR US MNC 8% 7% EU MNC 9% 6% The U.S. MNC will borrow from its lender at and enters the swap under which it pays The EU MNC will borrow from its lender at and receives from the swap bank. and enters the swap under which it pays and