General Investment Co. (GIC) purchased bonds on January 1, 2021. GIC's accountant has projected the following amortization schedule from purchase until maturity:

GIC purchased the bonds for:

General Investment Co. (GIC) purchased bonds on January 1, 2021. GIC's accountant has projected the following amortization schedule from purchase until maturity: Interest Revenue Date Cash Received 1/1/2021 6/30/2021 $8,700 12/31/2021 8,700 6/30/2022 8,700 12/31/2022 8,700 6/30/2023 8,700 12/31/2023 8,700 $ 9,880 9,921 9,964 10,008 10,054 10,099 Amortization of Amortized Discount Cost $ 282,274 $1,180 283, 454 1,221 284,675 1, 264 285,939 1,308 287,247 1,354 288,601 1,399 290,000 GIC purchased the bonds for: Multiple Choice cannot be determined from the given information. $282,274. O $342,200. $290,000