The irrevocable letter of credit for a dealer not selling their vehicle but offering an extended warranty must be:

The correct answer is $100,000 because this is the standard minimum amount specified for an irrevocable letter of credit when a dealer is not selling a vehicle but is instead offering an extended warranty. This requirement helps protect consumers by ensuring that there are sufficient funds available to cover potential warranty claims, enhancing trust in the dealership's ability to fulfill warranty obligations.

The other amounts listed may be higher than the regulatory minimum or specific to different circumstances, such as types of warranty products offered or other dealership policies, but for the scenario presented, $100,000 is the established standard. This ensures a balance between consumer protection and the financial responsibilities of the dealership.