Alexander Moore & Co. is willing to offer credit on a one-time purchase provided the NPV of the transaction is at least $50 at a required monthly return of 2 percent. Assume a potential sale has a sales price of $248 and a variable cost of $164. What is the maximum probability of default that will result in an acceptable offer?

A) 32.55 percent

B) 29.62 percent

C) 11.98 percent

D) 10.02 percent

E) 18.50 percent