Mr. Prudent has purchased a discount bond, that matures in 7 years with a payout of exactly $14,440. Assume that Mr. Prudent holds this bond for 3 years and then sells it in a secondary market. If the interest rate is 9.3%, then what price does he sell it for?
Group of answer choices
13,404.4
$12,874.2
$11,058.8
$10,117.8