Bank of the Atlantic Has Liabilities of $4 Million with an Average

Multiple Choice

Bank of the Atlantic has liabilities of $4 million with an average maturity of two years paying interest rates of 4.0 percent annually.It has assets of $5 million with an average maturity of 5 years earning interest rates of 6.0 percent annually.What is the bank's net interest income for the current year?

A) $300,000.
B) $140,000.
C) $160,000.
D) $280,000.
E) $80,000.