Magnificent Shoe Corporation has been granted a $250 million bank loan with an interest rate of 3-month LIBOR plus 2%.The loan begins today (August 12).3-month LIBOR today is 1%.If 3-month LIBOR rises to 1.5% on November 12, MSC's first payment of interest on that date will be (approximately; i.e., ignoring day counts):

a)$8,750,000

b)$7,500,000

c)$2,875,000

d)$2,500,000

e)$2,187,500

f)$1,875,000

g)$1,562,500

h)$1,250,000