Multiple Choice Question

On January $1,$ year $1,$ Ziegler issued $5-$year bonds with a stated rate of $8\%$ and a face amount of $$100,000.$ The bonds pay interest semiannually. The market rate of interest was $10\%.$ Calculate the issue price of the bonds. Round your answer to the nearest dollar.

$$92,278$

$$100,196$

$$92,418$

$$100,000$