On August 1, 2022, Teco issued a $ 4,000,000, 10 year, 6% bonds when the market interest rate was 4%. Interest is paid semi annually (January 31 and July 31). Teco adopts ASPE. Which of the following is NOT CORRECT in accounting for this transaction? Answers A-E A The calculation of the issue price of the bond is based on an interest rate of 2% B Teco has the option to use straight line method to account for the amortization of premium or discount C Cash payment on December 31 (Teco's year end) is $ $ 100,000. D The bond is issued at a premium 0 E There is a total of 20 period to account for the present value of the band