Your company has arranged a revolving credit agreement for up to $76 million at an interest rate of 1.45 percent per quarter. The agreement also requires your company to maintain a compensating balance of 6 percent of the unused portion of the credit line, to be deposited in a noninterest-bearing account. Your company's short-term investment account at the same bank pays an interest rate of 59 per quarter. What is the effective annual interest rate if your company borrows $41 million for one year? Multiple Choice 6.51% 6.05% 7.60% 6.65% 5.93%