On January 1, 2023, Day Co. paid $92,278 for $100,000 face amount, five-year, 8% bonds, a price that yields 10%. Interest is payable every July 1 and January 1. Total Interest Revenue to be recorded over the life of the bond is:

Select one:

a. $32,278

b. $87,722

c. $47,722

d. $40,000

e. $7,722