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Answer (B) is correct . Frame’s prime rate on a quarterly basis is 2% (8% ÷ 4 quarters), and the quarterly commitment fee is 0.125% (0.5% ÷ 4 quarters). Frame’s total charges for interest and fees for next year by quarter can be calculated as follows: First Second Third Fourth Quarter Quarter Quarter Quarter ? Activity Activity Activity Activity Used portion $10,000,000 $20,000,000 $20,000,000 $??5,000,000 Times:? interest rate ×????????????2% ×???????????2% ×???????????2% ×???????????2% Interest expense $?????200,000 $?????400,000 $?????400,000 $?????100,000 Unused portion $10,000,000 $????????????????0 $????????????????0$15,000,000 Times:? fee percentage ×?????0.125% ×?????0.125% ×?????0.125% ×?????0.125% Commitment fees $???????12,500 $????????????????0 $????????????????0$???????18,750

Answer (A) is incorrect because The amount of $1,118,750 results from failing to include the commitment fee for the first quarter.
Answer (C) is incorrect because The amount of $1,168,750 results from including an additional commitment fee.
Answer (D) is incorrect because The amount of $1,200,000 results from overstating the commitment fee.