(1) A person commits the offense of extortion in the first degree if the person commits extortion:
(a) Of property, labor, or services the value of which exceeds $200 in total during any twelve-month period; or
(b) By making or financing any extortionate extension of credit, or by collecting any extension of credit by extortionate means.
(2) Extortion in the first degree is a class B felony.