What is the value of the variable named counter

[EbonyVb]

What is the value of the variable named counter after the following statements are executed:

 Dim percent As Double = 0.54
           Dim valid as Boolean = True
           Dim counter As Integer = 1
           If percent > 0.050 and valid = True  Then
                counter += 2
                If valid = True  Then
                     counter += 1
                ElseIf percent >= 0.50  Then
                      counter += 3
                End  If
            Else
                counter +=1
            End  If

The possible answers are 2, 3, 4, and 7 Please advise.
Thank you.