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Assume that swap rates are identical for all swap tenors. A swap dealer entered into a plain-vanilla swap one year ago as the receive-fixed party, when the price of the swap was 7%. Today, this swap dealer will face credit risk exposure from this swap only if the value of the swap for the dealer is
A
Negative, which will occur if new swaps are being priced at 6%
B
Negative, which will occur if new swaps are being priced at 8%
C
Positive, which will occur if new swaps are being priced at 6%
D
Positive, which will occur if new swaps are being priced at 8%