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Which one of the following best describes a swap? allows a firm to convert outstanding foced rate debt to floating race debt. All of the

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Which one of the following best describes a swap? allows a firm to convert outstanding foced rate debt to floating race debt. All of the options are correct. obligates two counterparties to exchange cash flows at one or more future dates and allows participants to restructure their balance sheets obligates to counterparties to exchange cash flows at one or more fucure dates. allows participants to restructure their balance sheets

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