6) SC Corporation recently borrowed $1,000,000 from ABC National Bank who priced the loan on a floating basis equal to 30 day LIBOR + 250 basis points. In addition, ABC National Bank agreed that the interest rate at any one time would never be more than 4.5% but never less than 3%. During the first two months of the loan, 30 day Libor was 1.88% and 1.91%. Keeping in mind the interest rate agreement with SC Corporation and ABC National Bank, what interest rate was charged to SC Corp in month 2? A) 4.38% B) 4.5%. C) 4.41% D) 4.25%