The Bell Company Has Issued Floating Interest Rate Bonds Whereby

The Bell Company has issued floating interest rate bonds whereby Bell pays LIBOR + 2% on $50,000,000 notional value.Bell enters into a swap agreement where Bell receives LIBOR - 3% from a bank but pays 2% to the bank,both also on a $50,000,000 notional value.What is Bell's net interest cost on the borrowing?

A) 2%
B) 5%
C) 7%
D) LIBOR - 3%