According to a contract you signed with one of your business partners, you were expecting to receive a payment of $8,000 in 4 years, but now it seems you may not be paid until 7 years from today. In thinking about what penalty would be appropriate, you are wondering what the equivalent of $8,000 received in 4 years would be, if received in 7 years instead. Assuming an interest rate of 6%, what is the equivalent amount in year 7, to $8,000 received in year 4? Select one: a. $7,547 b. $6,560 c. $6,717 * d. $8,480 e. $12,029 f. $5,320 g. $9,440 h. $9,528