TopFlight has a bankers acceptance drawn on Wells Fargo with a face value of $3,000,000 due in 90 days. Wells Fargo will withhold an acceptance fee equal to 0.50% of the face value at maturity. TopFlights bank is willing to buy the bankers acceptance at a discount rate of 2.00%, compounded quarterly. What is the all-in cost of the acceptance, including the acceptance fee? (Note: Your answer should be the effective annual cost.)

	A.	5.16%
	B.	3.62%
	C.	4.08%
	D.	3.91%