Gilbert takes out a 23-year adjustable rate mortgage loan for $6,000,000 with monthly payments. The first two years of the loan have a teaser rate of 2%, after that, the rate can reset with a 2% annual rate cap. On the reset date, if the composite rate is 7%, what would the Year 3 monthly payment be?

a) $31,467.8 b) $32,768.6 c) $35,812.3 d) $42,327.9