A startup company has developed a new

mobile app that has the potential to disrupt the market.

The company is seeking funding to launch and market the

app. The company is considering two financing options:

equity financing with a venture capital firm that offers a

valuation of $$10$ million and debt financing with a bank at

an interest rate of $10\%$ over a five$-$year term. What is the

total interest expense for the bank loan over the five$-$year

term if the company borrows $$2$ million?

a$.$ $$100,000$

b$.$ $$200,000$

c$.)$ $$300,000$

d$.$ $$400,000$