GBA Company wishes to raise $6,000,000 with debt financing. The funds will be repaid with interest in 1 year. The treasurer of GBA Company is considering three sources: 1) Borrow USD from Citibank at 3.00% 2) Borrow EUR from Deutsche Bank at 5.50% 3) Borrow GBP from Barclays at 4.50% If the company borrows in euros or British pounds, it will not cover the foreign exchange risk; that is, it will change foreign currency for dollars at today's spot rate and buy foreign currency back 1 year later at the spot rate prevailing then. The GBA Company has no operations in Europe. A representative of GBA contacts a local academic to provide projections of the spot rates 1 year in the future. The academic comes up with the following table: Currency Spot Rate Projected Rate 1 Year in the Future USD/GBP 1.45 1.48 USD/EUR 0.97 0.93 What is the expected interest rate cost for the loans in EUR and GBP