Tom needs to purchase a new car urgently. Unfortunately he has no funds at the moment, but his rich grandmother has promised to give him $75,000 on his birthday (July 15). How much can Frank theoretically borrow today (March 15) if the current interest rate is 10.50%?

	a.	$73,081.61
	b.	$82,875.00
	c.	$67,873.30
	d.	$72,463.77
	e.	$77,625.00