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On January 1, Year 1, worthy Co. issued $1,000,000 of bonds payable. The bonds mature in five years on December 31, Year 5, and pay 9% interest once a year on December 31. The issue sold for $891,857 to yield 12%. worthy uses the effective interest method. What is the amount of the liability at December 31 Year i after the first interest payment? a. $891,857 b. $908,880 C. $931,590 d. $1,000,000