Jim owes Mike $$10,000.$ There is no dispute as to the validity or amount of the debt. Jim tells Mike that his Rolex watch is worth $$5,000$ and offers Mike the watch in satisfaction of the debt. Mike accepts. Mike later finds out that the watch is really only worth $$3,500.$ Jim thought the watch was worth $$5,000$ and did not fraudulently represent the value. How much does Jim still owe Mike?

Group of answer choices

$$10,000.$ The watch is not consideration since the debt is liquidated.

$$6,500.$ The watch is consideration but only for the actual value of the watch.

$$0.$ The watch is considered full satisfaction regardless of value.

$$5,000.$ The watch is consideration and they agreed it was worth $$5,000.$