Assume that the standard deviation of daily returns for Marcus, Inc. stock in a recent period is 1.5 percent. Furthermore, a 95 percent confidence interval is desired for the maximum loss. Daily returns are normally distributed, and the expected daily return is 0.05 percent.

Assume that Peter Monkorian has a $5 million investment in Marcus, Inc. stock. His expected maximum daily loss in dollars is $________.

a. 99,000

b. 121,500

c. 33,750

d. None of these choices are correct.