Your company has agreed to a $460 million fixed-commitment line of credit. The loan agreement calls for your company to pay 1.53 percent per quarter on any funds borrowed and maintain a 6 percent compensating balance on any funds borrowed at zero percent interest. What is the effective annual interest rate on this line of credit?

A) 6.26%

B) 6.46%

C) 5.37%

D) 5.57%

E) 6.66%