Charles & Garrett Associates arranged a $9 million revolving credit agreement with a group of banks. The firm must pay an annual commitment fee of 0.5% on the unused balance of the loan commitment. On the used portion of the revolver, it must pay 1.5% above the prime rate. The prime rate is expected to be 9% over the year. The firm faces a compensating balance requirement of 10% and its normal deposit balance is zero. If the firm borrows $6 million immediately once the revolver is signed, and repays at the end of one year, what is the AFC of the revolver?