On $1$ January $2010,$ Quanta Services Inc. issues $1,000,000$ face value, five$-$year bonds with annual interest payments of $55,000$ to be paid each $31$ December. The market interest rate is $6\mathrm{.}0$ percent. Using the effective interest rate method of amortization, the value of the liability on $31$ December $2010$ will be closest to $$

Select one:

a$.978,938$

b$.1,000,000$

c$.800,000$

d$.982,674$