McCoy Corporation issued $300,000 of 6%10-year bonds. The bonds are dated and sold on January 1,201. Interest payment dates are January 1 and July 1 . The bonds are issued for $259.110 to yield the market interest rate of 8%. Using the effective-interest method, what is the total cash payment for interest for each 12-month period? (All amounts rounded to the nearest dollar.) A. $24,000 B. $20,783 C. $18,000 D. $12,000 McAuliffe Corporation issued $660,000 of 6%10-year bonds. The bonds are dated and sold on January 1,201. Interest payment dates are January 1 and July 1 . The bonds are issued for $570,042 to yield the market interest rate of 8% Using the effective-interest method, what is the carrying amount of the bonds on the January 1,202 balance sheet? A. $576,166 B. $573,044 C. $650,000 D. $570,042