Briarcrest Company issued $90,000, 10-year, 8% bonds. The bonds pay interest annually, and were issued at a $5,200 premium. Which of the following statements is true?

	a.	Briarcrest's annual interest expense on the bonds will be greater than the amount of interest payments to the bondholders each year.
	b.	Briarcrest's annual interest expense on the bonds will be less than the amount of interest payments to the bondholders each year.
	c.	Briarcrest will receive $84,800 as the issue price, or selling price, for these bonds.
	d.	The cash paid to bondholders will be $520 each period.