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A bank has $200 million in checking deposits with interest and non-interest costs of 4%, $400...

A bank has $200 million in checking deposits with interest and non-interest costs of 4%, $400 million in savings and time deposits with interest and non-interest costs of 8%, and $200 million in equity capital with a cost of 18%. The bank has estimated that reserve requirements, deposit insurance fees, and uncollected balances reduce the amount of money available on checking deposits by 10% and on savings and time deposits by 5%. What is the bank's before-tax cost of funds? O 11.26% O 9.68% O 11.79% O 10.74% O 10.21%
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