On January 1, Pacer Corporation issued $2,000,000, 13%, 5-year bonds with interest payable on July 1 and January 1.The bonds sold for $2,197,080.The market rate of interest for these bonds was 11%.On the third interest payment date, using the effective-interest method, the debit entry to Interest Expense is for

Select one:

a.$239,663.

b.$119,804.

c.$120,336.

d.$120,839.

e.$237,426.