Parrish Industries has bonds outstanding (originally sold for $4,400,000) in the amount of $5,000,000 with a current bond discount of $100,000. The bonds were selling at 104 on the market at its year end. At what value should it report these bonds on its balance sheet at year end?

A) $5,000,000

B) $5,100,000

C) $4,900,000

D) $5,520,000

the answer of this question is c, please write down the steps leading to the answer