Your firm has received a quote from Bank of the South to provide a $50,000,000 line of credit. The stated rate is 2.5%. You will have to pay a 15% commitment fee and a .22% fee on unused balances. Bank of the South is also requesting that you maintain 5% of your borrowings as compensating balances. You have estimated that you will have an average cash shortfall of $41,500,000. (so usable funds need to be $41,500,000) What is the effective rate your firm will end up paying Bank of the South if it decides to go forward with this line of credit? a) 2.38% b) 2.97% c) 2.85% N d) 2.50%