$(102)$ K Communications Inc. issues $$1$ million of $10-$year, $4\%$ bonds when the market rate of finterest is $5\%.$ Interest is paid semi$-$annually. Investors will:

a$.$ not buy the bonds because the market rate of interest is higher than the contractual rate of interest.

b$.$ buy the bonds for $$1$ million.

c$.$ buy the bonds for more than $$1$ million.

a$.$ buy the bonds for less than $$1$ million.