Assume the time from acceptance to maturity on a $5,000,000 banker’s acceptance is 90 days. Further assume that the importing bank’s acceptance commission is 1.5 percent and that the market rate for 90-day B/As is 6.0 percent. Calculate the amount the exporter will receive if he holds it to maturity.

A. $4,009,375
B. $4,906,250
C. none of the options
D. $4,981,250


D. $4,981,250