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Assume Deere & Company's 2016 10-K reports the following footnote relating to long-term debt. Deere's borrowings include $200 million, 6.55% debentures (unsecured bonds), due in

Assume Deere & Company's 2016 10-K reports the following footnote relating to long-term debt. Deere's borrowings include $200 million, 6.55% debentures (unsecured bonds), due in 2028 (highlighted below). Long-term borrowings at October 31 consisted of the following in millions of dollars:

Notes and debentures 2016 2015
Medium-term notes:
Average interest rate of 9.2%-2015 $20
Swapped $170 to Euro at average variable interest rates of 3.1%-2015 250
7.85% debentures due 2020 $500 500
6.95% notes due 2021: ($700 principal)
Swapped to variable interest rates of 5.2% - 2016, 3.1% - 2015 744 786
8.95% debentures due 2021 200 200
8-1/2% debentures due 2022 200 200
6.55% debentures due 2028 200 200
8.10% debentures due 2030 250 250
7.125% notes due 2031 300 300
Other notes 29 22
Total $2,423 $2,728

A recent price quote on Deere's 6.55% debentures indicates that Deere's bonds have a market price of 108.104 (108.104% of face value), resulting in a yield to maturity of 5.89%. How much cash would Deere have to pay to repurchase the 6.55% debentures at the quoted market price of 108.104? (Assume no interest is owed when Deere repurchases the debentures.)

Select one:

A. $200.000 million

B. $213.100 million

C. $211.780 million

D. $216.208 million

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