A borrower takes out a 30-year adjustable rate mortgage loan for $250,000 with monthly payments. The first two years of the loan have a "teaser" rate of 4.5%, after that, the rate can reset with a 2% annual rate cap. On the reset date, the composite rate is 5.5%. What would the Year 3 monthly payment be? a) $1,267 b) $1,412 c) $1,580 d) $955 e) Because of the rate cap, the payment would not change.