Eagle's Nest Clothiers issued bonds at 8% annual interest with a $10,000 face value. The bonds were issued for $9,780 when the market interest rate was 9%. Assume the company uses the effective interest rate method. What is the amount of the first year's interest payment to the bondholders? a. $800 b.$782.40 C. $666.67 d. $220 e. $900