Moreland Corporation issued $200,000 of 10-year bonds on January 1 . The bonds pay interest on January 1 and July 1 and have a stated rate of 1 . percent. If the market rate of interest at the time the bonds are sold is 1 . percent, what will be the issuance price of the bonds?
a. $114,699
b. $177,059
c. $190,079
d. $224,926
B
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