You are bidding in an independent private-values auction with seven other bidders and no reserve price.The auctioneer has made each bidder aware that the expected valuation of the item is between $250 and $10,000.You decide to rule a first-price, sealed bid auction. The winning bid is $4,500. What value, to the nearest dollar, did the winning bidder place on the item?

1. $4,500
2. $5,029
3. $5,108
4. $5,288