Exactly three years ago, a company issued a loan of nominal amount 1 million USD and bearing interest of 5% per annum, payable semi-annually in arrear. The loan is to be redeemed at 103% by a single instalment in eleven years time. The entire loan was purchased at the issue date by an investor, who is subject to income tax at a rate of 40% and to capital gains tax at a rate of 20%. The price paid was such as to provide the investor with a net redemption yield of 6% per annum effective. Cash paid on redemption is __________. Select one: a. 1,030,000 USD b. 1,330,000 USD c. 1,300,000 USD d. 130,000 USD