3. On January 1, 2020 Arawak Inc. issued $2,000,000 of 10-year, 9% bonds for $1,877,103. The bonds were issued when the market rate of interest was 10%. Interest is payable annually on December 31 each year. Arawak uses the effective interest method of amortization. At the end of the first year, Arawak would report an unamortized bond discount of: a. $115,187. b. $102,897. c. $104,126. d. $91,836