A fund earns interest at the nominal annual rate of 8.04% compounded quarterly. At the end of each quarter, just after interest is credited, an expense charge equal to 0.50% of the fund is withdrawn. In which of the following ranges is the effective annual yield realized by the fund?

a) < 6.05%

b) >= 6.05% but < 6.10%

c) >= 6.10% but < 6.15%

d) >= 6.15% but < 6.20%

e) >= 6.20%