Question: 3. A company has issued a floating-rate note with a coupon rate equal to the three-month Libor+ 65 basis points. Interest payments are made

3. A company has issued a floating-rate note with a coupon rate equal to the three-month Libor+ 65 basis points. Interest payments are made annually on 31 March 2021, 31 March 2022, 31 March 2023, and 31 March 2024. On 31 March 2021 and 31 March 2022, the three-month Libor is 1.55% and 1.35%, respectively. The coupon rate for the interest payment made on 31 March 2022 is:

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