On January 1, 2016, Lumos Maxima, Inc. issued $800,000, 10-year, 10% bonds for $750,000. The bonds pay interest on June 30 and December 31. The market rate is 12%. How much cash will be paid to bondholders for the first interest payment on June 30, 2016? $80,000 $40,000 $48,000 $96,000