Discount-Mart issues $10 million in bonds on January 1, 2021. The bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds:

Date	Cash Paid			Interest Expense			Increase in Carrying Value			Carrying Value
01/01/2021										$	8,640,967
06/30/2021	$	300,000		$	345,639		$	45,639			8,686,606
12/31/2021		300,000			347,464			47,464			8,734,070
06/30/2022		300,000			349,363			49,363			8,783,433
12/31/2022		300,000			351,337			51,337			8,834,770

What is the carrying value of the bonds as of December 31, 2022?

A.$8,834,770.

B.8,686,606.

C.8,734,070.

D.$8,783,433