On January 1, Evangel Company issued 9% bonds in the face amount of $100,000, which mature in 5 years. The bonds were issued for $96,207 to yield 10%, resulting in a bond discount of $3,793. Evangel uses the effective interest method of amortizing bond discount. Interest is payable annually on December 31 The net carrying amount of Evangel's bonds payable at the end of the first year is A. $97,548 B. $95,586 C. $96,828 D. $94,866