On January 1, Year One, Super Company decides to issue term bonds with a total face value of $600,000. The bonds come due in six years and pay cash interest of 3 percent each year on December 31. An investor is found and an effective annual interest rate of 8 percent is agreed to by all parties. As a result, the bond is issued for $461,315. What is the amount of interest paid to the bondholders at the end of Year One? O $18,000 $48,000 $36,905 O $13,839