Amaco Inc. is issuing $12,000,000 in commercial paper with a maturity of 90 days at a discount rate of 1.75%. The dealer fee was quoted at .19%. The firm had to secure its commercial paper with a new committed line of credit. It has to pay its bank a commitment fee of .92%. What is the effective cost of this issuance of commercial paper for Amaco, Inc. a) 1.97% b) 2% c) 2.56% d) 2.91%