An S&P 500 index linked CD matures in 4 years, with the face value the same as the current S&P 500 index price, $ 2400. Upon its maturity,the investor will be paid back the face value, plus 60% of the gain on the S&P 500 index. The S&P 500 continuous dividend yield is 1.5% and

continuously compounded risk-free rate is 4%. The S&P 500 volatility is 25%. What is the fair value of this CD?

Group of answer choices

$ 2215.48

$ 2305.90

$ 2351.73

$ 2612.48