Both you and Doug Ford are clients of the First Bank and Trust of Stoner (FBTS), a boutique mortgage lender in Stoner, British Columbia. By coincidence, today you are both seeking an interest-only mortgage loan with annual coupon payments, a maturity of two years, and an initial balance of $1, 200, 000.00. Mitchell Hedberg, manager of the mortgage division at FBTS, considers each of your applications for such a loan along with your credit histories, employment record and current household wealth. After reading the documentation you each provide with your loan applications, Mitch understands that Doug is a riskless borrower but that you pose a serious credit risk to FBTS. After checking today's one-year and two year interest rates on Canadian government bonds, which have respective values of 2.900000% and 8.206269%, Doug is offered a 3.000000% annual coupon rate on his loan while you are offered a 6.000000% rate on yours. Being a highly successful student in real estate finance from Ryerson, what can you infer about the value, in current dollars, of the credit risk you pose to the bank today?

$13,618.01

$98,789.13

$56,987.12

$21,679.45

$45,503.48