Felix owns a participating whole life policy with a death benefit of $350,000.He purchased the policy 10 years ago and the cash surrender value (CSV) is currently $88,000. Exactly 4 years ago, when the CSV was $60,000, Felix decided to take a policy loan of $50,000. The loan has a 4% interest rate, compounded annually. To date, Felix has not made any loan payments.If Felix were to surrender the policy today, how much would he receive?

a) $1,507

b) $2,000

c) $29,507

d) $30,000