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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% - 8.18% and Dollar

Walmart can borrow in Euros at 8% or in Dollars at 7%. The bank quotes Euro interest rate swaps as 8% - 8.18% and Dollar interest rate swaps as 6.31% - 6.69%. Walmart would like to borrow $5 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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