Leo's Furniture Is Offering a "Houseful of Furniture" for $7,777

Leo's Furniture is offering a "houseful of furniture" for $7,777. Furthermore, if you make a down payment of $777 you can wait for 2½ years to pay the $7,000 balance. If Leo's Furniture immediately sells the $7,000 receivable contract to the Corleone Finance Group at a discount rate of 24% compounded monthly, how much money will Leo's actually receive for the "houseful of furniture"?

A) $3,864.50
B) $4,255.53
C) $4,641.50
D) $5,679.53
E) $6,897.50