Assume the time from acceptance to maturity on a $4,000,000 banker’s acceptance is 180 days. Further assume that the importing bank’s acceptance commission is 1.25 percent and that the market rate for 90-day B/As is 3.0 percent. Calculate the amount the exporter will receive if he discounts the B/A with the importer’s bank.

A. $3,993,750
B. $3,009,375
C. $3,915,000
D. $3,975,000

C. $3,915,000