23. On January 1, 20013, Topo Co. issued $1,000,000 in bonds payable . The bonds pay 4% interest semi-annually on July 1 and January 1, and they mature in 10 years. At the date of issue, Topo received $875,378, which implies a 5% semi-annual effective interest rate. what is the sum of the bonds payable book value and the unpaid interest payable at December 31, 2013, that Topo should report (the answer is within $100 of):

a. $883,104

b. $923,104

c. $1,000,000

d. $1,040,000

e. None of the above