Your broer would like to sell you a security (S) that will pay you $485 each year for the next 7 years wymits at Purs 1-7) and will cost you $2.21342 to purchase. A competing broker would like you to purchase a different security (59) that will pay you $195 a quarter for the next 8 years (Quarters 1- 3.) and has promise you an effective annual rate of return that will be 1.7 percent higher (170 basis point than the effective annual rate of return on the first security. Given this information, determine how much you should have to pay for this second security in order to earn this higher effective rate of $3,837.78 $3,849.46 $3,826,16 $3,814.59 $3,803.09