Keiko is buying a used car. Payments will be $382.50 every month for 4 years, with the first payment at the end of 8 months. The interest rate is 8.775% compounded daily. What is the equivalent cash price of the car?

a.

X = $15,540.91.

b.

X = $15,537.43.

c.

None of the other answers is correct.

d.

X = $14,657.95.

e.

X = $15,097.69.