Acme Inc. issued Bonds on 1/1/20. The face value of the Bonds totaled $500,000 and the stated rate of interest is 10%. The bonds solds at a premium due to the fact that the market rate of interest was only 8%. Acme received $505,000 in cash when the bonds were issued. What is the amount of cash payments for interest that Acme must pay each year? Select one: Ca. $50,000 b. $40,000 Oc. $40,400 d. $50,500