Suppose the Face Amount of a Promissory Note Is $1,000,000

Suppose the face amount of a promissory note is $1,000,000 and the importer's bank charges an acceptance commission of 1.5 percent. The note is for 60 days. Calculate the amount of the acceptance commission that the bank will charge.

A) $997,500
B) $15,000 = $1,000,000 × (0.015)
C) $2,500
D) None of the above