$3,400 was deposited into an account twelve years ago. An additional $1,000 was added into the same account seven years ago. The account earned 8.00%, compounded annually, for the first 5 years and then 5.50%, compounded annually, for the last 7 years. How much money is in the account today?

Group of answer choices

$7,412

$6,717

$8,708

$8,722