Delta Electric Company, based in Texas, just sold electrical equipment to a customer in Kuwait, with the payment of USD 5,000,000 due in six months. The payment will be made with a bankers acceptance issued by Commercial Bank of Kuwait at a fee of 2% per annum. If Deltas WACC is 12% per annum and it holds the bankers acceptance to maturity, what is the annualized percentage all-in-cost?

Hint: All-in-cost = Total costs/Amount received

		12.02%
		6.51%
		6.01%
		13.02%
		14.02%