Sanders Enterprises Arranged a Revolving Credit Agreement of $9, 000

Sanders Enterprises arranged a revolving credit agreement of $9, 000, 000 with a group of banks.The firm paid an annual commitment fee of 0.5% of the unused balance of the loan commitment.On the used portion of the revolver, it paid 1.5% above prime for the funds actually borrowed on a simple interest basis.The prime rate was 3.25% during the year.If the firm borrowed $6, 000, 000 immediately after the agreement was signed and repaid the loan at the end of one year, what was the total dollar annual cost of the revolver?

A) $285, 000
B) $300, 000
C) $315, 000
D) $330, 750
E) $347, 288