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Soggy Company is about to issue $400,000 of 10-year bonds paying an 8% annual interest rate. The interest is payable semiannually. The effective annual interest

Soggy Company is about to issue $400,000 of 10-year bonds paying an 8% annual interest rate. The interest is payable semiannually. The effective annual interest rate for such securities is 10%. How much can Soggy expect to receive for the sale of these bonds?

Group of answer choices

$292,637

$450,151

$800,000

$350,151

Please answer ASAP!

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