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16. Green Bay Corporation issued $300,000 of 15-year bonds on January 1. The bonds pay interest on January 1 and July 1 with a stated

16. Green Bay Corporation issued $300,000 of 15-year bonds on January 1. The bonds pay interest on January 1 and July 1 with a stated rate of 8 percent. If the market rate of interest at the time the bonds are sold is 10 percent, what will be the issuance price of the bonds?

THE CORRECT ANSWER IS D

PLEASE HELP WITH CALCULATIONS

A. $278,345 B. $254,366 C. $277,248 D. $253,883

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