An investor purchased a bond as a long-term investment on January 1. Annual interest was received on December 31. The investor's interest income recorded would increase each year if the bond were purchased at:

Select one:

a. Parb. A discount, and the straight-line method was usedc. A discount, and the effective method was usedd. A premium, and the effective method was usede. A premium, and the straight-line method was used