On January 2, 2015, Central Co. issued 9% bonds in the amount of $500,000, which mature on January 2, 2025. The bonds were issued for $469,500 to yield 10%. Interest is payable annually on December 31. Central uses the effective interest method of amortizing bond discount. In its Dec 31, 2015 balance sheet, what amount should the Central report as bonds payable?

	a.	$471,450
	b.	$500,000
	c.	$469,500
	d.	$470,475