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Your Company has a $20 million revolving credit agreement with its bank at 7% based on a calendar year. Prior to the month of June

Your Company has a $20 million revolving credit agreement with its bank at 7% based on a calendar year.

Prior to the month of June it had borrowed $8 million.

On June 11, it borrowed another $4 million (assume the funds were available on June 11.

The bank's commitment fee is 0.15% annually.

What bank charges will the company incur for the month of June.

$63,388.90

$54,571

$49,245

$68,824

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