Armand received a call from a client wanting to redeem $50,000 from his mutual fund. Armand immediately checked the price for the fund and submitted the redemption request. The posted NAVPS at the time when Armand submitted the request is $12.45. However, due to market fluctuation, the NAVPS decreased to $12.30 at the end of the day. How many units would have been redeemed from the fund to fulfill the client's redemption request?
1) 4,066
2) 4,065.0407
3) 4,017
4) 4,016.0643