On January 1, 2019, bonds with a face value of $ 106000 were sold. The bonds mature on January 1, 2029. The face interest rate is 10% annually. The bonds pay interest semiannually on July 1 and January 1. The market rate of interest is 8% annually. What is the market price of the bonds on January 1, 2019? The present value of $1 for 20 periods at 4% is 0.456. The present value of an ordinary annuity of $1 for 20 periods at 4% is 13.59. The present value of $1 for 10 periods at 8% is .463. The present value of an ordinary annuity of $1 for 10 periods at 8%is 6.145

(Round your final answer to the nearest dollar.)

A.

$120,363

B.

$81,647

C.

$106,000

D.

$ 111,300