Based on a need to borrow $2 million for one month, which of the following alternatives has the least expensive effective annual cost?

A.A banker's acceptance with an all-inclusive annual rate of 6.1%

B.A credit line at 6.0% annually with a $4,000 annual commitment fee

C.Commercial paper at 5.9% annually with a dealer's annual commission of $1,500 and a backup line annual cost of $3,500