[Solved] During the last year you have had a loan commitment from your bank to fund working capital for your business. The total line available was $25,000,000, of which you took down $20,000,000. It is now the end of the loan commitment period and your bank is asking you to pay the back-end fees. You have misplaced the paperwork that listed the terms of the commitment, but you know you paid total fees (this does not include any interest paid to borrow the $20,000,000) of $110,000 on this loan commitment. You remember that the back-end fee was 60 basis points. Calculate the front-end fee on this loan commitment. A) 60 basis points B) 32 basis points C) 40 basis points D) 16 basis points Horsetails: A group of vascular plants in the genus Equisetum, known for their jointed, hollow stems and reproduction through spores, not seeds. Terrestrial Life: Organisms that live and thrive on land, as opposed to in water or air. Land Plants: A large group of terrestrial plants, including bryophytes, ferns, and seed plants, that are key contributors to terrestrial ecosystems and the global oxygen cycle. Megafossils: Large fossilized remains or impressions of plants or animals visible to the naked eye, used in the study of paleontology.