A company purchased bonds on July 1, 2021, for $107,106. This price represents a market rate of 7% on bonds that have a face amount of $100,000, have a stated rate of 8%, pay semiannual interest, and mature in 10 years. Calculate the amount of interest revenue as of December 31, 2021.
A. $3,749.
B. $7,497.
C. $4,000.
D. $8,000.
Answer: A
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