A bank has interest expense of $150 million, earning assets of $1.4 billion, and a net interest margin of 5.0%. The bank also has interest-bearing liabilities of $1.1 billion. The bank's spread ratio must be \begin{tabular}{l} \hline 1.94% \\ \hline 1.10% \\ \hline 2.08% \\ \hline 1.65% \end{tabular}