New York Investments (NYI),an Investment Banking Firm,has Proposed Two Types

New York Investments (NYI) ,an investment banking firm,has proposed two types of payment plans for the IPO being considered by Albany Exploration.The first is a firm commitment of $40,000,000.The second is a best efforts arrangement in which NYI will receive $2.00 for every share sold up to a maximum of $3,600,000 for the 1,800,000 shares being offered.How much money will NYI earn under the best efforts method if it is able to sell only 95% of the offering at a price of $25.00 per share?

A) $3,420,000
B) $3,600,000
C) $3,200,000
D) $2,800,000