Gloria Company issued $200,000 of 10-year bonds on January 1. The bonds pay interest on January 1 and July 1 and have a coupon rate of 10 percent. If the market rate of interest at the time the bonds are sold is 8 percent, what will be the

issuance price of the bonds (rounded to the nearest dollar)?

A) $175,078

B) $211,283

C) $215,902

D) $227,181