A risk manager is considering a HKD 400 million loan that will be fully funded by deposits paying an average annual interest rate of 1.0%. The risk manager has estimated the following regarding the loan:

| Expected annual revenue: | HKD 16 million |

|--------------------------|----------------|

| Expected loss: | HKD 1.0 million |

| Unexpected loss: | HKD 48.0 million |

| Economic capital required: | HKD 47.0 million |

| Annual operating expenses: | HKD 2.0 million |

Assuming the economic capital can be invested so that it earns 2% per year, the risk manager correctly calculates the risk-adjusted return on capital (RAROC) to be 21.1%. Assuming nothing else changes, which of the following would increase the RAROC estimate the most?