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Walmart can borrow in Euros at 8% or in Dollars at 7%. The bank quotes Euro interest rate swaps as 8%8.15% and Dollar interest rate

image text in transcribed Walmart can borrow in Euros at 8% or in Dollars at 7%. The bank quotes Euro interest rate swaps as 8%8.15% and Dollar interest rate swaps as 6.35%6.87%. Walmart would like to borrow $1 million. How much can Walmart save if it enters a currency swap? [Note: your answer should be in dollars not basis points]

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