A duplex priced at $93,500 had an outstanding first mortgage loan balance of $79,250. It was exchanged for a four-plex, priced at $157,795 with a first mortgage loan balance of $109,642, and a junior mortgage loan balance of $39,240. To complete the exchange, the owner of the duplex will pay in cash or additional junior financing:
A: $8,913;
B: $5,337;
C: $5,100;
D: None of the above.
Answer: D: None of the above.
Business
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