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Sheridan Company received proceeds of $965000 on 10-year, 9% bonds issued on January 1, 2019. The bonds had a face value of $1024000, pay interest

Sheridan Company received proceeds of $965000 on 10-year, 9% bonds issued on January 1, 2019. The bonds had a face value of $1024000, pay interest annually on December 31, and have a call price of 102. Sheridan uses the straight-line method of amortization. What is the amount of interest Sheridan must pay the bondholders in 2019?

a.$86850

b.$92160

c.$98060

d.$86260

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