A borrower needs a $5,500 loan and will be able to repay the loan with probability 0.89. However, the borrower only wants to pay a 8.5% interest rate. What does the collateral value, X, need to be so that the bank can offer this borrower a loan at the desired interest rate? $1,633.54 $1,688.88 $1,717.5 $1,799.50