K-Roo Ltd. wants expand internationally and is looking at the Eurobond market. It can choose between two bank syndicates that are willing to back the Eurobond issue, with the following fee schedules: ANZ Westpac Principal 300985 300985 Maturity 10 years 10 years Syndication fee 2.22% 1.61% Interest rate p.a. 7% 3.24% Coupons per year 2 4 What is the lowest effective annual interest rate K-Roo Ltd. can achieve for the first payment period? a. 0.03293 b. 0.07159 C. 0.03240 d. 0.03787 e. 0.02964