On January 1, 2015, Corner Store, Inc issued $400,000, 10-year, 10% bonds for $354,200 . The bonds pay interest on June 30 and December 31 . The market rate is 12%. The cash payment on June 30, 2015 is
a. $20,000 .
b. $21,200 .
c. $24,000 .
d. $17,710.
a
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