Rossville Corporation issued a ten-year $2,000,000 bond that had a 10 percent face interest rate that is paid semi-annually when the market interest rate was 8 percent. What are the proceeds generated by this bond issue (using tables, round to dollars)?

a. $1,359,030 proceeds

b. $2,342,016 proceeds

c. $2,000,000 proceeds

d. $2,271,830 proceeds