On July 1, Year 1, Walters Corporation purchased as a short-term investment a $2 million face amount Kempff 6% bond for $1,800,000 plus accrued interest to yield 8%. The bonds mature on January 1, Year 11, and pay interest annually on January 1. On December 31, Year 5, the bonds had a fair value of $1,850,000. On March 1, Year 6, Walters sold the bond for $1,820,000 At what amount should Walters report the bond in its December 31, Year 5 balance sheet if it is classified as an available for sale security?

A. $2,000,000

B. $1,820,000

C. $1,800,000

D. $1,850,000