Ray Furniture wants to buy a dining room for $8,125 with a 20 percent trade discount. Ray needs the cash to pay the bill and is considering discounting a 90 day note dated May 12 with a maturity value of $6,500 at Hunt Bank at a discount rate of 13 percent on June 5. The bank discount if Ray discounts the note is

Select one:

a. $211.25

b. $1,400

c. $154.92

d. $212.15

e. none of the above