You have been offered an investment opportunity that pays $500 at the end of the first year, $700 at the end of the second year, and $200 at the end of the third and fourth years. What is the maximum amount of money you would pay to invest in this opportunity, given a rate of return of 6 percent?

a.

$1262.619

b.

$500

c.

$1421.03

d.

$1389.02