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A firm has a committed line of credit with a maximum of $2.5 million and an interest rate of 9% with a certain bank. The

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A firm has a committed line of credit with a maximum of $2.5 million and an interest rate of 9% with a certain bank. The commitment fee is 0.65%. The firm has $2 million outstanding on the line of credit on average during the year. What is the total cost of the loan? $193,000 C $180,000 C $212,500 $183.250

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