A Indian company, Alpha Inc, opens a $500,000 time letter of credit with its bank Rupee Bank, in favor of the beneficiary in the United States, Walsh College. The time letter of credit calls for the draft to be drawn on Rupee Bank in India at 90 days after the bill of lading date. Since the draft is drawn on this Indian Bank, the American Bank (B of A) that receives the draft for it's client, Walsh College, is taking the credit risk of Rupee Bank. The goods are shipped on April 14, Alpha present documents required under the letter of credit to B of A on April 20, accompanied by a 90-day draft maturing on July 13. Commission is 1.5% p.a. that would be charged by B of A. 6.4% acceptance discount rate Walsh's line of credit borrowing rate is 9.5% (fyi) Once the banker's acceptance has been created, the exporter has two choices: What are they? and please calculate