Two parties enter into a two-year fixed-for-floating interest rate swap with semi-annual payments. The floating-rate payments are based on LIBOR. The 180-, 360-, 540-, and 720-day annualized LIBOR rates and present value factors are:
	Rate	Present value factor
180-day LIBOR	5.50%	0.9732
360-day LIBOR	6.00%	0.9434
540-day LIBOR	6.50%	0.9112
720-day LIBOR	6.80%	0.8803
What is the (fixed) swap rate?

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