(1) For Method B, the amount is that calculated by the formula -
SE x k
where -
(a) SE is -
(i) for PV up to €5 million, 4.0% of PV,
(ii) for PV between €5 million and €10 million, €200,000 plus 2.5% of (PV - €5 million),
(iii) for PV between €10 million and €100 million, €325,000 plus 1% of (PV - €10 million),
(iv) for PV between €100 million and €250 million, €1,225,000 plus 0.5% of (PV - €100 million), and
(v) for PV over €250 million, €1,975,000 plus 0.25% of (PV - €250 million),
(where PV is one-twelfth of the total amount of payment transactions executed by the applicant in the previous year), and
(b) k has the meaning given by Regulation 17.
(2) For the purpose of calculating SE for an applicant, a step in any of sub-subparagraphs (i) to (iv) in paragraph (1) (a) includes its upper limit but not its lower limit.