Harrys Tree Services is trying to raise debt from a prospective venture investor, SureWay LLC. SureWay indicated to Harry that the annual interest rate on risky venture loans is currently 15 percent. Harry is seeking a 3-year loan with annual payments. He is willing to pay back $100,000 at the end of 3 years. However, due to cash flow problems, he can only afford to pay interest at a 12 percent annual rate. Calculate the dollar amount that SureWay venture investors would lend to Harrys Tree Services.

(a) $93,150.32.

(b) $95,150.32.

(c) $97,150.32.

(d) $99,150.32.

(e) None of the above.

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