The balance sheet of Key Bank (KB) has the following items (all amounts are in $MM). On the Assets side, it reports: 1-year Consumer Loans=$140, 30-year Consumer Loans=$125, 6-month T-notes=$265, 3-year T-bonds=$180, and 30-year Floating-rate Mortgages (adjusted every year)=$120. On the Liabilities and Equity side, it reports: Passbook Savings=$120, 3-month CDs=$280, 6-month CDs=$140, 1-year Time Deposits=$110, 5-year Time Deposits=$80, and Equity Capital=$100. What is the impact over the next year on KB's net interest income if interest rates decrease by 75 basis points?

The balance sheet of Key Bank (KB) has the following items (all amounts are in \$MM). On the Assets side, it reports: 1-year Consumer Loans =$140,30-year Consumer Loans =$125, 6-month T-notes =$265, 3-year T-bonds =$180, and 30-year Floating-rate Mortgages (adjusted every year) =$120. On the Liabilities and Equity side, it reports: Passbook Savings =$120,3-month CDs=$280,6-month CDs =$140, 1-year Time Deposits =$110,5-year Time Deposits =$80, and Equity Capital =$100. What is the impact over the next year on KB's net interest income if interest rates decrease by 75 basis points? A. $0.5 million B. $2.75 million C. $0.0375 million D. $1.35 million