Bank of America is currently considering a 70% GBP and 30% EUR portfolio investment with a 3-month term. Know that the investment interest rates for the same term of EUR and GBP are 1% and 1.2%. Exchange rate fluctuations of EUR and GBP against USD are both -2% with 35% probability, +2% with 65% probability. The expected effective rate of return achieved by Bank of America is

a. 1.81%

b. 1.75%

c. 1.67%

d. 1.14%