A bank only asset is a peculiar 3-year, 6% $100 million bond where payments are paid at the end of year 2 and 3. The Term structure is flat with all yields equal to 6%. The banks liability includes 1 year debt that promises to pay out $84.8 after a year, implying that the debt value today is 84.8/1.06 = $80. The banks equity capital is closest to which of the following?

a) $20m

b) 14.34m

c) 100m

d) 15.20 m

e) 9.53m