ABC Development recently secured 75% financing from a bank for a significant land purchase, which amounted to $10,000,000. The bank offered this financing with a compounded annual interest rate of 8.5%. Now, the developer is looking to determine the estimated carrying interest cost if they plan to fully repay the land loan over the course of 5 years. What is the estimated total carrying interest cost for the land acquisition? Question 20 options: $4,855,850 $4,105,965 $4,306,790 $3,777,425