a corporate borrower would like to apply for a 10-year $10 million loan to finance its new project from the city bank. City bank would like to charge this borrower a 1% spread and 0.5% of origination fee and expect a 0.2% of the expected loss. Since the project is very complicated to evaluate, and it will cost city bank $18,000 to invite experts to assess it. Suppose that the risk-adjusted factor (DR)/(1+RL) and the tax rates are 1% and 28% respectively, what is the RORAC of this borrower?