Pamela Gentle, an analyst with BYB Advisors, is using pathwise valuation to estimate the price of a 3-year, annual pay, 4% coupon bond with a par value of $100. Gentles current progress on the valuation is given in the table below:

Pathwise Valuation: 3-year, annual pay, 4% coupon bond
Path	Forward Rate - Year 1	Forward Rate - Year 2	Forward Rate - Year 3	Path Present Value
1	3.00%	4.0845%	5.9553%	99.1707
2	3.00%	4.0845%	3.9920%	100.8993
3	3.00%	2.7379%	3.9920%	102.1709
4	3.00%	2.7379%	2.6759%	MISSING

The value of the 3-year, annual pay, 4% coupon bond is closest to:

A) $98.54

B) $101.41

C) $100.75

D) $103.89