12. The Enwave Energy Corporation is expanding and enhancing the efficiency of its district energy system in central Toronto and developing new services in western and eastern Toronto and in Mississauga. This expansion will cost $1.4 billion and will be funded through both public and institutional investment. The Canada Infrastructure Bank (CIB) will support the project by providing $600 million, which will be required to be paid back annually over 15 years. The interest rate for the loan is 3.5% per year. The project will increase annual revenue by about $400 million per year. Over the life of the energy system, interest rates are expected to be 4%. Based on this information, how much will Enwave pay CIB in their annual installments? A. $52.09 million B. $47.22 million C $121.56 million D. $53.96 million