Bank A has a loan with firm X for $15.0 million. The loan is due in full at the end of year 3. To protect itself, the bank takes a credit default swap with LowRisk Insurance Company at a cost of 2.5% per year in fees. At the end of 3 years, firm X is able to pay back only $10.0 million in a negotiated settlement. Over the 3-year period, how much cash will the bank be able to recover for the loan?

a. $15.0 million

b. $14.875 million

c. $13.875 million

d. $10.0 million