On January 1, 2017, $1,000,000, 5-year, 5% bonds, were issued for $957,349. The interest rate in effect when the bonds were issued was 6%. Interest is paid semi-annually on January 1 and July 1. What would be the amortized cost of the bonds on January 1, 2018?

A) $1,000,000

B) $957,345

C) $961,069

D) $964,901