A company issues $10,000,000, 6%, 10-year bonds to yield 8% on January 1, 2020. Interest is paid on June 30 and December 31. The proceeds from the bonds are $8,640,967. Using effective-interest amortization, what will the carrying value of the bonds be on the December 31, 2020 balance sheet?

Group of answer choices

a.) $8,715,341

b.) $8,640,967

c.) $8,700,000

d.) $8,686,606