On a particular day, an American company, Company A, borrows euro-denominated funds for one year at 1.50%. In comparison, a similarly rated U.S. company, Company B, borrows a dollar loan with the same maturity at 3.00%. The exchange rate on the borrowing date is $1.1200/. Assume that the international Fisher effect holds true. What is the expected effective cost of debt in dollars (in percentage) for Company A?