Consider the following balance sheet for Watchover Savings Inc. (in millions): (LG 23-1)

Assets			Liabilities and Equity
Floating-rate mortgage	$60		NOW deposits	$105
(currently 10% p.a.)			(currently 6% p.a.)
30-year fixed-rate loans	90		5-year time deposits	25
(currently 7% p.a.)			(currently 6% p.a.)
			Equity	20
Total	$150		Total	$150

What will be the net interest income at year-end if interest rates rise by 2 percent?

Enter answer as decimal 0.00