Your company has agreed to a $$300$ million fixed$-$commitment line of credit. The loan agreement calls for your company to pay $1\mathrm{.}37$ percent per quarter on any funds borrowed and maintain a $5$ percent compensating balance on any funds borrowed at zero percent interest. What is the effective annual interest rate on this line of credit?

Multiple Choice

$4\mathrm{.}79\%$

$5\mathrm{.}59\%$

$5\mathrm{.}89\%$

$5\mathrm{.}74\%$

$4\mathrm{.}97\%$