On January 1, 2023, Day Co. paid $103,288 for $100,000 face amount 10% bonds, a price that yields 8%. Interest is payable every July 1 and January 1. Interest revenue for the year ended December 31, 2023, using the effective interest method should be approximately:

Select one:

a.$10,329

b.$8,263

c.$8,228

d.$8,000

e.$10,000