A small business received a six-year $2,000,000 loan at a subsidized rate of 3% per year. The firm will pay 3% annual interest payment each year and the principal at the end of six-year. If market interest rates on similar loans are 6% per year, what is the NPV of the loan? (Ignore taxes.)

A) +$126,371

B) +147,520

C) +348,369

D) -501,595

E) -137,391