Swaps Carter Enterprises can issue floating-rate debt at LIBOR + 3% or fixed-rate debt at 9%. Brence Manufacturing can issue floating-rate debe at LIBOR + 2.9% or fixed-rate debt at 12%. Suppose Carter issues floating-rate debt and Brence issues fixed-rate debt. They are considering a swap in which Carter makes a fixed-rate payment of 8.25% to Brence and Brence makes a payment of LIBOR to Carter. What are the net payments of Carter and Brence if they engage in the swap? Round your answers to two decimal places. Use a minus sign to enter negative values, if any. Net payment of Carter: 10.9 36 Net payment of Bronce: -(LIBOR + 4.1 %) Would Carter be better off if it issued fixed-rate debt or if it issued floating-rate debt and engaged in the swap? The swap is good for Carter, fitised fid-rate debt Would Brence be better off If it issued floating-rate debt or if it issued fixed-rate debt and engaged in the swap The swap is good for Brence if it issued floating rate debt