An American company that borrowed CHF 1,000,000 at an interest rate of 8 percent in Swiss francs converted the CHF 1,000,000 into dollars and used it to make payments to suppliers. At that time, the exchange rate was 1 CHF=0.5 $. After a year, the exchange rate will become 1 CHF=0.6 $. Calculate the actual cost of financing. A. 25.1% B. 29.6% C. 24.7% D. 30.1%