You have decided to open the largest take away food chain in Sydney. You plan to finance your business with a 5-year Eurodollar loan for $47 million from Barclays. Barclays charges a syndication fee of 1.48%. The interest rate isLIBOR + 2.15% with LIBOR reset quarterlySuppose the current 3-month LIBOR rate for dollar is 10.25% and the current 6-month LIBOR rate for dollar is 11.275%. What is the effective annual interest rate for the first quarter?Oa. 12.586%O b. None of the options c. 6.293%Od. 12.400%. 13.627%