A companyissued$9,000,000 of 4% bonds on May 1 at par value.The bonds weredated January 1.The company pays interest onJune 30 and December 31each year.How much will thebond investorsneed to paythe company in accrued interest onMay 1and how much will the bond investorsreceivein interest onJune 30?[INVESTORS:Pay May 1; Receive June 30]

a.

$0;$180,000.

b.

$360,000;$360,000.

c.

$120,000;$360,000.

d.

$120,000;$60,000.

e.

$120,000;$180,000.