ABC company issues 8-year, $200,000 bonds on January 1, 20x1. The stated rate is 6%, interest is

payable semi-annually on 6/30 and 12/31. The effective rate is 8%. Calculate the amount of cash

received for the bonds.

Question 18 options:

a)

$69,912.

b)

$106,800.

c)

$176,712.

d)

$200,766.